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    1. From the article 

      With more firms adopting AI, students gunning for a career in banking and finance are preparing to be up against such technology at first interaction. If they get in the door, they’re then faced with the question of whether the jobs will be available to humans in the next few years.

      Most executives are in agreement: Jobs will be cut as AI is implemented. JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said in December that the technology “will eliminate jobs.” Jane Fraser, Citigroup Inc.’s CEO, said some jobs “will no longer be required,” while Goldman Sachs Group Inc. President John Waldron referred to employees as a “human assembly line” ripe for automation.

    2. Ok I don’t get this…..they bitch and moan about “synergy” in office and force needless RTO, just to over invest into AI. And I get it RTO is to get people to quit but now they layoff due to AI…..make this world make sense……

    3. At least they are being honest. It’s better than claiming that AI is just a „tool“ that will empower workers.

    4. Real-Marionberry-483 on

      „Battleship Galactica“? I sure hope someone gets fired and replaced by a chatbot for that blunder.

    5. I work for one of the largest banks in the world and there is indeed an awful lot of chat about AI. It’s common to see people using it day to day, to help them code or write documents (its painful engaging with some colleagues who use AI to write their emails) and in part of some key technologies (e.g. transaction identification)

      But I don’t really see what the mass workforce cuts are. Banks require so many people to run and interpreting precise details is so important, which AI is so bad at. It makes me significantly faster at my job, but also significantly worse.

    6. farfromjordan on

      Are they going to fire the division that only shows the available balance Mon thru Fri?

    7. Google ai told me 50 cents coverted to euro was an odd number and when I looked closer it gave me the value of a crypto called „50 cent“

      This will backfire in glorious ways

    8. HubrisOfApollo on

      i hope it takes the jobs of all the middle managers across all industries. no brakes on this train

    9. SerMickeyoftheVale on

      I work with AI building reports based on financial information. On the surface it seems really powerful, and it does allow you to do repetitive tasks very quickly.

      The issues I see are when you look at it in detail. The AI will give different answers to different people. It will also do different things for the same person when they give it the same instructions. I am currently working to check if it gives different numbers, which I have found. This is based on static historical data, I would be concerned if it is implemented in any live system. These issues will be fixed with new versions of AI

      My concern is stopping an AI from hallucinating. The more I see this the more I fear it. AI has taken me down a rabbit hole because it is convincing. I have had to talk to another person at all stages to stop that from happening. I have had to stop it with others as well.

    10. The only preparing the banks are doing is the preparation of default notices and foreclosure sales for the newly unemployed.

    11. TrumpsDoubleChin on

      I work for one of these banks, and every single town hall or meeting is a chance for the speakers to one-up each other showing how many times they can say „AI‘ per minute.

      That said, one speaker had a more nuanced response to middle management. It’s not AI that is coming to take your jobs. It’s more like those people who know how to properly leverage and implement AI that are coming to take your jobs. Those who adopt and adapt will have the leg up over those who don’t.

    12. Eggs_ontoast on

      As someone who works for one of the larger banks out there, can confirm that that boards are acutely aware of rising AI costs and service provider concentration. They are conscious that it is easier to negotiate with employees (and even unions) than large multinational AI companies when it comes to managing costs.

      Interestingly some of the most vulnerable jobs are those process roles that have recently been offshored to Asia.

    13. Waste_Philosophy4250 on

      When confronted with the question of who the companies will be selling to after the death of consumerism under massive unemployment, most pundits are quick to prognosticate a transition to a B2B economy and belittle us as being irrelevant in the upcoming nightmare. But there always lies a human consumer at the bottom of every B2B network. The electronics industry is largely B2B but the ultimate goal is to efficiently provide the end consumers with devices be it individuals, corporations or governments etc. So once the number of people needing these devices, whether personally or for work, drops by >99% while AI systems exist solely on giant datacenters, where will all those B2B supply chain companies for human-centric electronics go? 

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