It used to take a human researcher 2 days. Now, a new program at investment bank Goldman Sachs compiles detailed reports in 2 milliseconds...
Automation of this sort means up to 54% of existing financial jobs will disappear.
At Goldman Sachs, those jobs pay $350,000 - 500,000 per year.
It’s making companies far more productive... but new human jobs aren’t appearing as fast as they’re getting automated away.
And it’s not just affecting Wall Street...
A 2013 Oxford University study suggests:
1. 47% of all American jobs are at “high risk” of automation within the next 20 years
2. “Technology is becoming more labor-saving & less job-creating” says one of the study’s authors.
Look into the future of human employment in an automated world: http://www.nytimes.com/2016/02/28/magazine/the-robots-are-coming-for-wall-street.html