Artificial Intelligence Is Superseding Well-Paying Wall Street Jobs

Jack Kelly of Forbes –

We’ve been told that there is nothing to worry about with artificial intelligence (AI), robots and technology. New technologies will only replace mundane, repetitive jobs and free up workers to do more meaningful work, claims the media and top management consulting firms.

But recently, the House Financial Services Committee’s Task Force on Artificial Intelligence conducted a meeting with university academics and Wall Street financial services professionals to discuss the impact of AI on trading, robo-advisory, market surveillance and other activities within the financial services sector. To set the tone, the report by Wells Fargo predicting 200,000 banking jobs in the U.S. will be lost over the next decade—due to the introduction of new technologies—was cited by the chairman of the AI Task Force, Rep. Bill Foster (D-Ill).

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About Radnor Reports

Ken Feltman is past-president of the International Association of Political Consultants and the American League of Lobbyists. He is retired chairman of Radnor Inc., an international political consulting and government relations firm in Washington, D.C. Known as a coalition builder, he has participated in election campaigns and legislative efforts in the United States and several other countries.
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