The threat from artificial intelligence (AI) to millions of repetitive, lower-paying jobs is a big factor in the future of business. But a new study predicts most of those changes in employment will show up in the finance sector, where over half the sector’s roles were determined to be “most prone to automation.”
The authors of those findings on AI’s impact in banking should know what they’re talking about: They’re tech experts at banking giant Citigroup. Their “AI in Finance: Bot, Bank & Beyond” report was released Wednesday, and immediately turned heads with its forecast that fully 54 percent of financial sector jobs “have a high potential for automation.” An additional 12 percent of posts might also see some degreee of “augmentation,” or improvement through the rapidly developing tech.
