Seems like a lot of big banks are investing in tech and our jobs will become obsolete. There are also so many new fin-tech companies that are trying to get rid of the need to actually see an actual person. Should I be looking elsewhere? Or will a career in finance still manage to survive this AI boom?
Did you mean to say "personal banker" jobs instead of Finance jobs? Because every company, tech or nontech, will need to have Corporate Finance. They are in the business to make money
Yes
I read this article about how a team of hundreds of traders in GS was replaced by a couple of hundred techies and 2 traders for providing the limited domain knowledge which was still required. If you believe stuff like this, then yes, there's cause for concern
This has already happened for certain sub domains like trading. Most hedge funds nowadays really only hire math / stats wizards who can also code. The days of stock picking are gone for the most part as algo-trading dominates the markets.
I've been working directly with CFOs to reduce headcount across finance and shared service functions. Tech is actively eliminating jobs.
A little more detail please
Traders.
Banks are going away.. Credit card will be first to die. Finance and big banks will eventually be obsolete in years to come.
Credit cards are going to replace cash, nobody will ever use cash again... and bitcoin is going to replace all financial instruments... and banks are going to die cause Bernie is going to abolish them!!!! /s For a person that works at a bank you sure are shortsighted to all the regulation that requires fin techs to partner with banks to deliver ground breaking products that customers actually want to use.
Future will tell :-)
"Killing the I-Bank" by CBInsights - read it - I'm pretty sure all finance jobs will either be gone or be so low-valued, including today's sound-good investment banking jobs https://www.cbinsights.com/research/report/disrupting-investment-banking/
yes
Depends what you do. What do you do?