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Artificial intelligence will wipe out half the banking jobs in a decade, experts say

Artificial intelligence will wipe out half the banking jobs in a decade, experts say

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  • My first job in high school was a bank teller at a local community bank in Illinois, and this was already happening at the retail level. Then, when I was on the Goldman trading floor 10 years ago, it was clear that even the highest paying, front office jobs weren’t safe either. It’s a trend that will

    My first job in high school was a bank teller at a local community bank in Illinois, and this was already happening at the retail level. Then, when I was on the Goldman trading floor 10 years ago, it was clear that even the highest paying, front office jobs weren’t safe either. It’s a trend that will only accelerate — and not just in finance.

  • This is completely accurate. In New York City, only two weeks ago I held a panel with leading AI researchers and CEOs doing applications in this field of business. As a result of both automation and advanced analytics systems, the jobs of time will be long in the past.

    Then what hope is there for the

    This is completely accurate. In New York City, only two weeks ago I held a panel with leading AI researchers and CEOs doing applications in this field of business. As a result of both automation and advanced analytics systems, the jobs of time will be long in the past.

    Then what hope is there for the rest of us? The opportunity to explore new fields, and to start planning today to re-skill our talents. I have met individuals who know they are part of dying industries, and choose to stay the course as a result of apathy and a lack of innovative mindsets. You can be innovative, but the shift starts with your perspective.

    If you are interested in learning more about the future of work, consider this read: (https://www.amazon.com/Human-Machine-Reimagining-Work-Age-ebook/dp/B075FCVTRR/ref=sr_1_1?ie=UTF8&qid=1524509825&sr=8-1&keywords=humans+machines)

  • Hopefully this artificial intelligence will be benevolent enough to curb the shady banking tactics that have led to past economic crises.

  • This is a very real possibility. It’s frightening, and honestly, there’s very little we can do about it. In the future nearly all industries will be affected by these developments.

  • Although I agree with the overall assessment, the future isn’t as bleak as some might think. As the last portion of the article noted, a majority of these jobs will be replaced - due to automation. However, the EQ that comes with making qualitative decisions will still require a human element.

  • Makes sense. We started to do Automation at a Factoring company I worked at. It didn’t eliminate jobs but it eliminated repetitive tasks. I imagine for large bloated companies they might have a lot of employees with repetitive tasks.

  • Makes sense. After all, a different kind of artificial intelligence almost wiped it out a decade ago.

  • Can't wait for all these banking dips to realize how useless they are.

  • This isn’t very surprising, when I worked in banking several plans were made to wipe out tellers completely. ATMs, universal bankers who were cross trained as bankers and tellers. They want as few people as possible and with new online banking features where you can apply for loans eventually they will

    This isn’t very surprising, when I worked in banking several plans were made to wipe out tellers completely. ATMs, universal bankers who were cross trained as bankers and tellers. They want as few people as possible and with new online banking features where you can apply for loans eventually they will get rid of bankers too. Just have auditors, paper pushers, and shareholders.

  • hmmm