Hello monkeys, stumbled upon a very interesting article: Are robots coming to take investor jobs on Wall Street?
Bots are squeezing their flesh-and-blood competition and threatening the jobs of thousands of human brokers in the $20 trillion US wealth management business.
Nearly one in three investors says these machines are superior at picking stocks and lessen their risk, and almost as many say the machines are better at selecting investments for retirement than human brokers
Keeping these in mind, what is the future for bankers? To be honest, it's looking quite bleak as robots and AI get smarter, and smarter, and smarter. It's not only the people working in manufacturing that are losing jobs... Bankers might be unemployed later on too.
Then again, this might be a good sign for young, inexperienced investors, since they'd have access to these robots too in the future, with less commission and cost, and also, with a good track record.
But as we all know, the stock market is a zero-sum game. Too many inexperienced investors simply joining to get profits.... Would this break the stock market?