Will AI spark a wave of job losses in banking? This what the experts think

The advances have also fueled speculation of a wave of job losses as machines replace humans, just as the industrial revolution rendered many occupations redundant. The World Economic Forum predicted in January that by 2020, 5 million jobs could be lost to machines. Experts said when it came to the banking and finance sector, the topic needed a more nuanced approach. Speaking on a panel discussing global trends in fintech at InnovFest UnBound, a digital technology conference organized in Singapore, Avinash Hegde, co-founder of a chat bot service Supertext, explained that low-skilled finance jobs, such as basic analytics and number crunching, could soon be done by AI. "The way we interact with business and financial analysts is going to dramatically change in the next few years," he said. Would financial analysts find themselves out of a job?