The impact of information technologies on employment in the banking sector of Serbia

Jelena Veličković; Jasminka Đuričanin; Danijela Maksimović

doi:10.71159/icemit2549V

Authors

Jelena Veličković Toplica Academy of Applied Studies, Department of Business Studies Blace, Serbia
Jasminka Đuričanin Toplica Academy of Applied Studies, Department of Business Studies Blace, Serbia
Danijela Maksimović Toplica Academy of Applied Studies, Department of Business Studies Blace, Serbia

DOI:

https://doi.org/10.71159/icemit2549V

Keywords:

banking sector, digitalization, employment, artificial intelligence

Abstract

The paper analyzes changes in employment and profitability in the Serbian banking sector during the period 2001–2024, with a comparison to trends in the United States. Particular attention is given to the impact of digitalization and artificial intelligence on the transformation of business models and the structure of the workforce. The results show that employment in Serbia increased until the global financial crisis of 2008, after which it recorded a continuous decline and stabilization at a lower level, while similar patterns are observed in the U.S., where the decline in commercial banking employment was partly offset by growth in the broader financial sector. Profitability of the Serbian banking sector has experienced strong growth, especially since 2017, with record results in the period 2021–2024, with technological innovations, regulatory stability, and the reduction of non-performing loans identified as key contributing factors.

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