A reminder that whilst disruptive technologies will be harnessed by the banking sector their is uncertainty over the impact on jobs. We all know that it is not only lower skilled jobs that are under threat. Knowledge workers are not immune as big data analytics & machine learning often prove as effective in decision making.
Nevertheless, making better decisions is one thing. Executing them better quite another. But the large departments of expensive and skilled people that are often built up to add intuition to incomplete data will be under threat. Agile platforms that analyse COMPLETE DATA- structured and unstructured data, internal and external data- mean decisions are data driven and rely less on intuition
Predictions about future job growth are getting harder to make. Innovation is happening so quickly in so many areas that it's making Moore's Law look sluggish. Moore's Law states that computing power will roughly double every two years. But advances in robotics, analytics, sensor technology, 3D printing and other technologies are "radically accelerating" this pace of innovation. Bank of America Merrill Lynch, in a new study, looks at the innovations ahead and quantifies what it sees as the growth rates of various technologies. But when it comes to the impact on jobs, the bank's researchers are scratching their heads like everyone else. There is worry, in this comprehensive report, that automation could upend the U.S. government's job growth estimates.
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