I'm assuming by "deps" you really meant "devs", and if so, I'd have to agree. I worked in the investment banking world for some years in a back office IT role and there were mini armies of devs there doing the most mundane, basic CRUD style work for years on end getting paid cushy 6-fig salaries. Not FAANG level, but solid nonetheless.

I would not at all be surprised if these large firms hired consultants from places like McKinsey to come by and analyze the work their IT staff is involved in to see how tools like GPT-4 could be leveraged to "streamline" (aka reduce the headcount of) these orgs, and then dramatically restructured them based on their findings. The only thing keeping many of these folks around is the political clout of their managers and department heads.