Morgan Stanley estimates that artificial intelligence (AI) will eliminate 200,000 banking jobs in Europe by 2030. This number focuses solely on the banking sector within the EU and highlights the potential for widespread job losses due to AI advancements. The cuts are expected primarily in banks’ central services, which encompass back-office, middle-office, risk management, and compliance roles. If similar trends emerge globally, job losses could reach around 1 million. Goldman Sachs has issued even grimmer predictions, suggesting AI could affect 300 million jobs worldwide by diminishing roles due to enhanced efficiency. Despite these warnings, there is a belief that AI will also create new job opportunities. JPMorgan Chase CEO Jamie Dimon acknowledges the significant job losses that AI will bring, not just within his company but across various sectors. He suggests that while some jobs will disappear, others will emerge, potentially leading to shorter work weeks for employees. The debate over the impact of AI on employment remains open, as many predictions won't fully materialize until layoffs begin. In the meantime, the article also touches on a separate study indicating that a specific habit can significantly improve Americans' retirement savings, although it doesn't detail what that habit is.