Google Partnership with Goldman Sachs to Automate IB?
Mar 5, 2020
7 Comments
What are your thoughts? I personally think that IB is one of the least automated areas in finance. Since banking is highly based on relationship building, this is hard to replace with tech. I've heard that Google is seeking to use APIs to automate a vast amount of work, not just trading. Do you think this will impact the demand for i-bankers? How much do you think you'll be impacted by this decision? Also how much do you think AI will hurt the relationship aspect of the industry?
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On top of that, 75%+ of banking isn’t numbers. It’s talking to clients, providing advice, crafting marketing materials, etc. These are not able to be automated. Clients also want to have a trusted confidant and not just a robot, so that portion of the job will likely never be replaced