“Bank of America Corp. and International Business Machines Corp. have teamed up to develop a public-cloud computing service for banks, which have been reluctant to store customers’ financial data outside their in-house systems.
Venmo, a digital money-transfer service operated by PayPal Holdings Inc., reported more than 40 million active users for the first three months of 2019.
Over the same period, Bank of America reported 37 million active digital users, while
Wells Fargo & Co. counted 29.8 million.
Among large U.S. banks, only JPMorgan Chase & Co. surpassed Venmo, reporting 51 million digital users for the first quarter.”
“A report released this week by the MIT-IBM Watson AI Lab called “The Future of Work: How New Technologies Are Transforming Tasks.”
The researchers used machine learning to analyze 170 million U.S. job postings between 2010 and 2017. They found that out of 18,500 possible tasks employees might be asked to do on average, the number had fallen by 3.7 over seven years.
A drop, though hardly radical. These disappearing tasks are being taken up by AI or machine learning systems that have demonstrated the efficiencies of automation, the report says.“
“Artificial Intelligence is apparently ready to get to work. Over the next three years, as many as 120 million workers from the world’s 12 largest economies may need to be retrained because of advances in artificial intelligence and intelligent automation, according to a study released Friday by IBM’s Institute for Business Value.
One report earlier this year found that robots could replace humans in a quarter of US jobs by 2030.”