Banks: Network Shrinkage and Artificial Intelligence

The use of artificial intelligence (AI) is reshaping how banks operate, leading to a shrinkage of the physical network and changes in internal processes.

According to newmoney.gr, artificial intelligence is impacting the redesign of services, reduction of operating costs, and the skills of the workforce.

Banks such as Alpha Bank, National Bank, Piraeus Bank, and Eurobank have already implemented or planned voluntary redundancy programs. Changes in branch operations are also being discussed, especially in regional areas, with a gradual shrinkage of the physical network.