Machine learning and robotics to take 30% of bank jobs - Computer Business Review

Are you concerned or encouraged by the onset of technologies that provide automation? Technologies including machine learning and robotic process automation are set to eliminate up to 30 percent of human bank jobs, according to a new report. New alternatives to human workers are becoming desirable within the financial services, as the technology for automation is becoming more affordable. Roles under threat typically involve a degree of manual work, the kind that is often involved in managing databases and libraries, tasks that can be handled easily by the algorithms within machine learning. This statistic has come from a new McKinsey & Company report, says Bloomberg, who were told by Jared Moon, a co-writer of the report, that the change will "require people to use new skill sets, taking away manual work but allowing more around analytics, transformation and change."