https://www.cbsnews.com/news/banking-100000-jobs-wells-fargo-analysts-automation/
10 replies (most recent on top)
Sure, they can automate many job functions, but those savings are lost to bureaucracy, overhead, and paperwork.
Stop reposting this fear po-n. 100k less employees in the financial sector is barely over 5% of the entire industry.
Good job
Been saying this for 20 years. 🥱
Yep, while pitching their latest zillion dollar upgrade, it's all about "here's what the cool new system can do!". The second it gets installed, then all we hear is what it CAN'T do, or what some inane rule says you can't have access to.
Tech is great at selling their services and convincing the higher ups to pony up huge $, but in all other areas it's a complete mess.
Funny. They claim tech can solve all our problems, but literally every single time something in tech is "upgraded", it costs a fortune, we lose capabilities we had with previous systems, it's less reliable, it's less capable, it's so locked down even authorized users can't use basic functions, and absolutely no one takes responsibility for anything going wrong EVER, even though the issues were easily foreseeable. Want to get access to basic features that should be standard? Submit a request, that a week later some faceless tech pleeb will deny because 'reasons'. No names, no one to escalate issues to (because they know they'd get SWAMPED). It's a complete cluster. Thanks to mass centralization and anonymity in service, no one in tech/access gives a damn about an issue that is HUGE risk for your group. Submit another request...wait another week, maybe this time we'll consider it. Maybe. That's 7 business days, by the way, because the bank only faces risk 9-5, M-F EST.
Don't bother responding techies. We know, it's "not my area". We've heard it.
this would have to be done by competent workers, external consultants
Their number is low. Now look at all of the other businesses doing the same thing outside of banking. It's going to be a jobs apocalypse. You think there are too many jobs/not enough people right now, but it's going to flip extremely fast.
Blame every manufacturer who wants to offer a subscription model to their software [Adobe/Microsoft/etc] and control every update, while also pushing out half finished software and patching it with band-aids or adding features that break or disable others. Leave your computer running and connected to VPN so it can DL all of the needed patches. Reboot once a day -unless one of the above companies decides something is urgent. This isn't anything new.
Seriously i can barely log into my computer at this jo--t. There are so many daily updates and restarts of my computer its freaking nuts, there's zero intelligence. If they think AI is going to replace branch mangers who deal with human customers, or AI replace a sales person on a million dollar mortgage they have another thing coming. Saul can dress up like a doll but some stuff never changes, including tech hype and BS.