Robots batter on Wall Street .. 200,000 posts are in danger

Global banks intend to end the service of up to 200,000 employees between the next three and five years, after the scope of artificial intelligence has expanded to include the tasks performed by people in the current period, according to “Bloomberg Intelligence”. The senior information and technology officials who interviewed ‘Bloomberg Intelligence’ indicated their opinions that they expected to relinquish the services of net 3% of employees, according to a report published on Thursday. Thomas Nitszl, the first analyst at Bloomberg Intelligence, who prepared the report, believes that support and evaluation departments and operations will be most at risk. Although customer service management can see changes, as robots can perform employees tasks, the client’s knowledge tasks may also be at risk. He added that “any posts that include duplicate tasks are at risk. But artificial intelligence will not completely eliminate it but rather a change in the workforce.” Artificial intelligence and job loss from 93 polls, almost a lower lower for the total number of employees, ranged between 5% and 10%. City Group, JP Morgan and Goldman Sachs were one of the guests questioned by the “Bloomberg Intelligence” recording. Results indicate that large scale changes in the sector will lead to high profits. In 2027, the profits of banks before the tax could increase by 12% and 17% compared to their level without making changes, which will contribute about $ 180 billion to their net profits as the use of artificial intelligence will increase productivity, according to “Bloomberg Intelligence”. 80% of participants expect the obstetrician artificial intelligence to increase production and income by at least 5% over the next five years. The demand for artificial intelligence accepts large numbers on the new generation of artificial intelligence instruments that can improve productivity, after spending years updating information technology systems to accelerate the rate of operations and reduce costs in the aftermath of the financial crisis. ‘City Group’ was revealed in a report released in June that artificial intelligence is likely to replace more jobs in the banking sector compared to any other sector, and that there is a great opportunity to automate about 54% of the posts at sector level. However, a number of businesses have confirmed that shifting work with technology will change and not completely replace it. In November, the Teresa Heitzenshers, who makes the efforts of AI in JP Morgan, indicated that the bank’s acceptance of obstetrician artificial intelligence has so far been directed to support work. JP Morgan CEO Jamy Damon said in an interview with Bloomberg TV in 2023 that artificial intelligence is likely to lead to a noticeable improvement in the quality of employees’ lives, even if he will abolish some posts, and “your children will live up to 100 years and not cancer, thanks to technology.