Artificial intelligence will wipe out half the banking jobs
2018-04-21, 06:48 PM,
Advances in artificial intelligence and automation could replace as many as half the nation’s financial services workers over the next decade, industry experts say, but it’s going to take a big investment to make that happen.

James D’Arezzo, CEO of Glendale-based Condusiv Technologies, says that’s where things are headed. And the process will be complicated.

“Unless banks deal with the performance issues that AI will cause for ultra-large databases, they will not be able to take the money gained by eliminating positions and spend it on the new services and products they will need in order to stay competitive,” he said.

Intensive hardware upgrades are often cited as an answer to the problem, but D’Arezzo said that’s prohibitively expensive. He cited a recent announcement from the Tokyo Institute of Technology Global Scientific and Computing Center as an example.

The center is developing a supercomputer to meet the demands of artificial intelligence and big data applications. But existing supercomputers tend to cost anywhere from $50 million to several hundred million dollars, he said, which negates the cost-reduction advantages of AI technology.

What is your opinion about it?
Share This Thread :

2018-04-21, 07:21 PM,
And the other half will be wiped out by crypto ;)
2018-04-21, 07:39 PM,
Like the ATMs did earlier, I agree.
2018-04-21, 08:44 PM,
If it happens the hacking stuffs will also be increased
2018-04-21, 08:56 PM,
Same will happen to most of the jobs.
2018-04-21, 09:32 PM,
I completely agree, we are heading for war with ourself
2018-04-21, 09:51 PM,
That's good news considering AI won't take coffee and cigarette breaks every 5 minutes xD
2018-04-24, 09:17 PM,
Yes, Very soon this gonna happen.
2018-04-25, 08:40 AM,
I am really happy with that because I am not a fan of banking industry. There are many paper works that I believe they can be easily done by computers/robots/machines with higher accuracy.
2018-04-28, 10:00 PM,
Finally the banking works would be faster at that time

Related Threads
Thread Author Replies Views Last Post
  Guccifer 2.0 Slipped Up and Revealed He Was a Russian Intelligence Officer mugilmoli 7 384 2018-03-24, 12:10 AM
Last Post: IAmCPAKing
  Interesting Reddit Harvard University AMA About AI [Artificial Intelligence] HawkEye 11 841 2017-08-01, 11:11 AM
Last Post: MoneyNinja
  What did your school friends end up doing for jobs now? shadow98 9 718 2017-07-09, 12:55 AM
Last Post: andrew43
  Has anyone seen: 1. The Martian | 2 DeadPool | 3.The Revenant | 4. Steve Jobs (2015) HawkEye 7 1,002 2016-03-03, 05:33 PM
Last Post: Riddik
  Steve Jobs explains the rules for success alexparris 1 633 2014-09-01, 03:20 PM
Last Post: Rottweilerz

About Us | Contact Us | CPA Elites | Advertise | Stats

© 2013-2018 CPA Elites Ltd
Enhanced by MyBB and WallBB
Return to top