People working on AI things at the bank say execs are discussing how many jobs they could replace before showing the agents can handle work across Wells Fargo’s older systems. Is your team testing agents on limited tasks first? What results are being measured before staffing decisions are made?
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OP - 100% true statement.
Same as it has always been. AI is just the latest flavor.
@OP You are kidding right? WF has never proven anything out nor has anything ever delivered the proposed benefits? Why do you ask? Because McK consultants are too brainwashed to look at upstream and downstream changes needed. Because people like TK, SVB and their cronies are inept change leaders, and because they all smoke fairy dust and are donkey kissers
Absolutely targets are being set. 2028 will be the cliff for a lot of groups. 2027, build and test while fighting to absorb and deal with any attrition, without backfilling. Jobs will go bye bye in 2028.
Well now that SVB is running AI, the bank has nothing to worry about. What is BE doing? TK?
No; cut first, no effective planning or implementations or even vendors signed on.
Rhetorical question, right?
Cost cutting and staff reductions are the desired end states. AI is just another way to get there.
The staffing decisions are driving the bus. They start with headcount reduction targets then manufacture whatever horsesh-t they think is necessary to get there. I'm directly involved in AI agent design work (against my better judgement, only because it's better than joining the bread line). Stop looking for intelligent decision making, you're not going to find it.
Sort of. The c-suite looks around at other banks like JP Morgan, their use of AI and staffing levels, and then says "me too."
At the end of the day our costs need to be competitive with other banks and right now they're not.
The real flaw is that nobody's trying to use AI to raise revenue instead of cutting costs.