Robots Threaten Stock Analyst Jobs

The Wall Street Journal wrote an article "Can You Tell the Difference Between a Robot and a Stock Analyst" discusing how the future of big bank financial analysts might not be so profitable. The reason being they won't have their jobs.

Of course, it won't be because the banks won't exist. They are merely driven to cut costs and increase effciencies. Use of automation with algorithms is now common practice in financial services.  Companies like Narrative Science are being employed by Deloitte, Credit Suisse and Mastercard to automatively transform big data into narrative reports to make decisions on investments.

Ray Kurzweil, oft sited author of The Singularity is Near and director of engineering at Google, pins the arrival of artifical intelligence on 2029. Regardless of how accurate his date might be, jobs in the financial sector, as well as in many other industries, will easily be replaced long before that. Driverless cars, which are already clocking miles on the road in some states, are expected to be ubiquitous within five years.

Today we can see technology that exists and understand how it is used. As computers and machines become more capable, people will need to find new ways to stay relevent in the work force. Over the course of humanity jobs have always been replaced by technology while the kinds of work people have performed has always changed.

This doesn't mean we won't have any jobs left. It means the nature of our jobs, the roles we need filled, and the manor in which we perform tasks will change. For people who value the future of their financial security (no matter what your job is), it is worth considering what will be our most valuable traits. Creativity, adaptability, and the ability to learn.


image from Wikimedia Commons