Advances in artificial intelligence and automation could replace as many as half the nation's 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 Glendale, Calif.-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.

Artificial intelligence is projected to replace thousands of banking jobs in the future. Anthony Jenkins, former CEO of Barclays Bank, predicts that during the next 10 years, advances in financial technology -- especially in artificial intelligence -- could cause the number of people employed by the financial services sector to decline by as much as 50 percent, according to a Condusiv Technologies news release. This would provide the industry large cost savings and enable a much more competitive atmosphere. James D'Arezzo, chief operating officer of Condusiv Technologies – based in Glendale, Calif. "The industry already spends more on information technology than any other industry – spends more than health care," he said.

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.

According to industry experts advances within artificial intelligence and automation will wipe out more than 50% of the jobs in the financial sector in the next 10 years however it is going to take some big investments to achieve automation at that scale. James D'Arezzo, CEO of Condusiv Technologies said, "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. He also thinks that while hardware upgrades often solve these problems this comes hand in hand with sometimes inordinate expense with the Tokyo Institute of Technology Global Scientific and Computing Center as an example of this. The centre is on the verge of developing a supercomputer to meet the demands of artificial intelligence and big data applications. At the current cost of hardware, it would take around $50 – $100 Million dollars to build the supercomputer.

According to industry experts advances within artificial intelligence and automation will wipe out more than 50% of the jobs in the financial sector in the next 10 years however it is going to take some big investments to achieve automation at that scale. James D'Arezzo, CEO of Condusiv Technologies said, "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. He also thinks that while hardware upgrades often solve these problems this comes hand in hand with sometimes inordinate expense with the Tokyo Institute of Technology Global Scientific and Computing Center as an example of this. The centre is on the verge of developing a supercomputer to meet the demands of artificial intelligence and big data applications. At the current cost of hardware, it would take around $50 – $100 Million dollars to build the supercomputer.

Advances in artificial intelligence and automation could replace as many as half the nation's 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 Glendale-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.