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
  Uber Says Its Drivers Can Kick Out White Supremacists cmdee4 10 562 2018-08-26, 02:33 PM
Last Post: cmdee4
  Homeless man hands out resumes, gets hundreds of job offers yassiyoh 12 807 2018-08-19, 03:35 PM
Last Post: specz34
  Spanish PM forced out of office KentVMason 7 288 2018-06-02, 12:53 AM
Last Post: geniusforever31
  Check out this real life GTA skills sudirbhai 10 823 2018-05-17, 10:37 PM
Last Post: B1TCS
  Cambridge Analytica moving "boxes" out of their office before the search warrant midastou4 7 780 2018-03-24, 11:37 PM
Last Post: timilak65

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

© 2013-2019 CPA Elites Ltd
Enhanced by MyBB and WallBB
Return to top