Majority of jobs in banking sector risk being made redundant by AI

Daniel Puchert

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Big threat to banking jobs in South Africa

Citigroup published its AI in Finance: Bot, Bank, and Beyond report, revealing that 54% of jobs in the banking sector are at high risk of automation through Artificial Intelligence (AI).

World Wide Worx CEO Arthur Goldstuck says this should not be surprising to the banking group.
 
Makes life tough for kids in Matric in choosing what to study. Personally, any job that is based on stats and prediction is likely to be done by AI
 
Makes life tough for kids in Matric in choosing what to study. Personally, any job that is based on stats and prediction is likely to be done by AI
Including that work done by economists!
 
as long as there are old tannies who dont know PC's and how to use cellphones, their job is safe.
The old tannies can't use banking apps either. All they know is how to use the ATM, mostly, because "NBS told them to come on in and get their slice"
 
The positions that will always be in demand is manual labour. Educators, Doctors/Medical, Engineers and Criminals are also good positions that cannot be fully done with AI.
 
The positions that will always be in demand is manual labour. Educators, Doctors/Medical, Engineers and Criminals are also good positions that cannot be fully done with AI.
Psychiatrists, nurses, psychologists, physiotherapists, chiropractors, frail care assistants, prostitutes...
 
Best you get yourself into the C-suite then
indeed, though from what I've seen of executive teams I can't imagine I'd ever want to be one

unless it happens as a consequence of founding a successful venture or something, but the level of politics and BS seemingly required to qualify for C-suite in other ways is just not appealing
 
And will be accelerated by the untrained dim bulbs currently employed in banking.
 
And will be accelerated by the untrained dim bulbs currently employed in banking.
therein lies the problem, many customer facing people in banking are basically glorified chat bots, the level of service they provide is not exactly hard to replicate with software

I imagine AI would struggle to solve a more nuanced problem, about as much as a customer would struggle to find that one person at the bank that knows how to solve it
 
Big threat to banking jobs in South Africa

Citigroup published its AI in Finance: Bot, Bank, and Beyond report, revealing that 54% of jobs in the banking sector are at high risk of automation through Artificial Intelligence (AI).

World Wide Worx CEO Arthur Goldstuck says this should not be surprising to the banking group.

Not at all. It's numbers and algorithms. Something AI would be very good at. Even a bank teller job is at risk these days.
 
Not at all. It's numbers and algorithms. Something AI would be very good at. Even a bank teller job is at risk these days.
What about someone "higher". My niece wants to study actuary but I have serious reservations on it. Banging on how they will use stats to determine life expectancy and ****. To me, those types of calculations are dirt simple to input into AI.
 
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