A famous venture capitalist predicts big banks will fall first to artificial intelligence

Wall Street will be one of the first and largest industries to be automated by artificial intelligence, predicts Kai-Fu Lee, China's most famous venture capitalist and former Microsoft and Google executive. Lenders, money managers, and analysts--any jobs that involve crunching numbers to estimate a return--are at risk. "Banks have the curse of the baggage they have, like Kodak letting go of film," Lee says. "Their DNA is all wrong." Lee's VC firm, Sinovation Ventures, has started to invest in this space by financing Smart Finance Group, a company which algorithmically determines eligibility for payday loans.