http://www.nanalyze.com/2017/02/artificial-intell…
I read the article posted above. It detailed out how front office roles are being impacted by AI and other Fintech technologies.
I've been done lots of implementations that involved automating business processes and generally less skilled workers were impacted, however I'm totally shocked and surprised by what I've read here. The firm I'm with has made a strong push for AI implementations recently and I've been reading a lot of use cases but have been generally unaware of much changes in the banking sector because of AI.
I just want to start a thread on:
1- Will Investment Banking still be the preferred job for graduates?
2- Will salaries decline in IB due to AI/Automation?
3- Will AI/Fintech/Blockchain/P2P lending completely change the banking industry as we have known it?
4- What skills are needed to stay sharp and be immune to layoffs and market changes?
5- Will MBA's become obsolete moving forward? (Due to AI?)
In my opinion, although you can substitute a lot of workforce with AI, the human interaction that exists in IB will never be fully replaced. I think that this might has a bigger impact in other areas as Trading/Brokerage for instance.
You can read a little bit more in The Economics website, search for: March of the machines and The return of the machinery question.
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