Vikram Pandit, who ran Citigroup Inc. during the financial crisis, said developments in technology could see some 30 percent of banking jobs disappearing in the next five years.
What do you think about it? What would be the most touché fields? Asset Management? Private banking? Ib? Trading floors?
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Technology is a tool. The article points out the painfully obvious. Technology will be used to decrease inefficiencies. Overall the number of firm employees will likely rise. There is consensus seems to be that the client facing "soft skills" job will become MORE valuable in a increasingly technological world e.x. front office.
The demand for technical skills employee will keep rising. There will be no shortage of required people. If there is a decrease, it will be in the lower/easier tasks to perform.
People have often criticized technology and stating it will take away jobs. However, people do not understand what a bug is, or system error messages, or software development life cycle. Software is just another tool to use,, like a hammer or screw driver.
There will always be an increased demand for skilled professionals in the field. I do not see a shortage anytime soon.
On the off-topic, I did have a friend who was an engineer leave for plumbing school, having feared his job was going to be outsourced.
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