I heard Jamie Dimon speaking the other day and he was saying how AI is going to fully integrated into every aspect of Chase’s business and currently AI was handling a large part of their equity trading.
If I were in a Wall Street research, trading or strategy business I would have an exit plan because in 3-5 years places like Wall Street will be getting rid of a bunch of highly paid people who can easily be replaced by AI.
And then there are the considerations about robots trading against robots and the volatility that is likely to introduce.
That is correct.
Soon, maybe less than a decade, there won’t be any jobs that AI can’t handle. Massive unemployment on a scale unheard of including the Great Depression......................