“‘I find it very surprising when really smart people take one side or the other,’ Scharf said during an appearance at a Bernstein investor conference. ‘They sit there and they say, ‘it’s not a threat to employment,’ or they sit there and say, ‘it’s a huge threat to employment.’ ‘It’s so obvious to me, looking…
Tag: ai job loss
Banking and AI: When the tech starts doing the work, not just assisting it
“At first, the biggest impact was in cost. Then it moved quickly into risk, which is one of the hardest areas to open up to innovation, for obvious reasons. Then marketing and sales. And now we might be at the edge of a totally new paradigm: not an app, but a conversation. Conversational banking might…
HSBC weighs deep job cuts as AI overhaul unfolds: report
“Global banking giant HSBC Holdings Plc is considering significant job reductions in the years ahead, as CEO Georges Elhedery bets on artificial intelligence to downsize middle and back offices, Bloomberg reported. The greatest impact is anticipated to be seen among non-client-facing positions in global service centers, but the evaluation is only in an early stage, according to…
AI won’t end work for bankers — it will redefine it
“Just as the steam engine freed workers from drudgery, the assembly line created new industries, the computer unlocked entire careers, AI is set to redefine the value of labor. The short-term friction of labor reshuffling is real, but in the long run, innovation has always left us better off, not worse… This is not a…
What Role Will (Or Does) Artificial Intelligence Play In Your Life?
“AI today is similar to the introduction of the desktop computer three decades ago. Many people resisted computers and got left behind. What’s the best argument for AI today? If you can write instructions for a task so that someone can follow them, then AI can replicate those actions. Not only can your company exist…