The Traderszone Network

Published in TZ Latest News 14 September, 2017 by The TZ Newswire Staff

Former Citi CEO Vikram Pandit: "AI Could Kill 30% Of Back-Office Banking Jobs By 2023"

Just as the development of electronic trading led to mass downsizing on sales desks across Wall Street, advances in artificial intelligence could decimate the ranks of banks’ back-office staff, according to former Citigroup CEO Vikram Pandit. And given the rapid pace of technological advance, jobs in operations and retail banking could begin disappearing in as few as five years.

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