Artificial intelligence will wipe out half the banking jobs in a decade, experts say

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.
Read more: https://www.mercurynews.com/2018/04/20/artificial-intelligence-will-wipe-out-half-the-banking-jobs-in-a-decade-experts-say/?source=Snapzu