Barclays is cutting approximately 5,000 jobs as it expands its use of artificial intelligence and pushes forward with a broader modernisation programme.

The banking group confirmed that 1,000 positions have already been eliminated, with a further 4,000 reductions expected to be completed by the end of this year.

The cuts represent around 5% of Barclays' global workforce, with the majority falling within operational and functional roles. The bank said approximately 60% of the reductions will affect support functions, including developer roles.

Barclays described the changes as part of an ongoing three-year cost-cutting programme focused primarily on its UK retail banking arm, though the investment banking division is also affected.

Group chief executive CS Venkatakrishnan said the job losses stem from significant investment in technology aimed at simplifying and improving the business.

"That is driving the bulk of the efficiency gains that you've seen so far," he said.

"AI has an important role to play and may have a more important role to play in the future. I've often said that it is the icing on the cake -- it's not the cake -- because you need to do the infrastructure build to get the benefits of AI."

Barclays said AI is considered the "icing on the cake" of its strategy rather than the primary driver of change, with the broader technology infrastructure investment underpinning most of the efficiency gains recorded so far.

Separately, Barclays reported a profit of £2.3 billion for the three months to September, higher than the same period a year ago but slightly below analyst forecasts.

Economists have been monitoring corporate results closely for signs that investment in new technology, and AI in particular, is translating into measurable gains in operational efficiency and reduced headcounts across the sector.