AI Could Kill 2.5 Million Financial Jobs--And Save Banks $1 Trillion

Two converging trends have enabled forms of AI that can effectively mimic or replace human labor. On the one hand, specialized hardware has increased processing power, making it possible for AI systems to generate outputs in real time. At the same time, the amount of data available to feed those systems has skyrocketed, thanks to search histories, online photos, and more. Combine those two capabilities, and software engineers have the tools to create virtual assistants like Alexa, and automated filing services like Google Photos. So far, AI is best suited to discrete, repeatable tasks.