Financial services giants like Goldman Sachs and Morgan Stanley are exploring the use of AI tools that could potentially replace entry-level financial analyst positions. These tools can automate tasks such as compiling reports, crunching numbers, and interpreting data. The adoption of AI in the financial services industry could significantly impact hiring strategies and render the need for hiring thousands of college graduates obsolete. AI automation is already being used in the industry to increase efficiency and productivity. However, the implementation of AI also presents challenges in terms of managing and implementing these tools. The financial industry is expected to be one of the early adopters of AI technology, impacting CIOs and other employees in the sector.