Artificial intelligence to wipe out half banking jobs in a decade, experts say - Businessamlive

Advance in artificial intelligence and automation could replace as many as half the financial services workers over the next decade, industry experts say, but it's going to take a big investment to make that happen. James D'Arezzo, CEO of GlenMOBILE VOICE TELEPHONY usage in Africa has remained stable and the situation is likely to persist at least until the end of this year – despite increasing adoption of Over the Top (OTT) applications such as instant messaging and social media platforms, dale-based Condusiv Technologies, says that's where things are headed. And the process will be complicated. "Unless banks deal with the performance issues that AI will cause for ultra-large databases, they will not be able to take the money gained by eliminating positions and spend it on the new services and products they will need in order to stay competitive," he said. Intensive hardware upgrades are often cited as an answer to the problem, but D'Arezzo said that's prohibitively expensive.