Barclays to Cut 5,000 Jobs in A.I.-Driven Push to Lower Costs

What happened: Barclays is cutting 5 percent of its work force as banks turn to A.I. amid pressure to prove the technology can bolster productivity and profits. Key numbers: 5 percent of Barclays' work force; headline cites 5,000 jobs. Why it matters: The move reflects growing pressure on banks to show that A.I. can improve productivity and profits. Coverage: 10 outlets in 24h

Barclays is cutting 5 percent of its work force as banks turn to A.I. amid pressure to prove the technology can bolster productivity and profits.

The move reflects growing pressure on banks to show that A.I. can improve productivity and profits.