🤖 Robots Are Coming for Jobs on Wall Street 🐂

tell-me-a-vision (40)in #economy • 7 years ago

Automation has been replacing manufacturing jobs for decades, but white collar finance workers have so far largely been spared. That's no longer the case for Wall Street workers, as machine learning AI is now cheap enough to begin rolling out in real world situations.

As many as 800 million workers worldwide may lose their jobs to robots and automation by 2030, equivalent to more than a fifth of today’s global labor force.

That’s according to a new report covering 46 nations and more than 800 occupations by the research arm of McKinsey & Co.

The consulting company said Wednesday that both developed and emerging countries will be impacted. Machine operators, fast-food workers and back-office employees are among those who will be most affected if automation spreads quickly through the workplace.