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13-09-2017, 01:40 PM
Pandit Says 30% of Bank Jobs May Disappear in Next Five Years
Chanyaporn Chanjaroen
September 13, 2017, 11:57 AM GMT+8 September 13, 2017, 12:54 PM GMT+8
Vikram Pandit, who ran Citigroup Inc. during the financial crisis, said developments in technology could see some 30 percent of banking jobs disappearing in the next five years.
Artificial intelligence and robotics reduce the need for staff in roles such as back-office functions, Pandit, 60, said Wednesday in an interview with Bloomberg Televisionâs Haslinda Amin in Singapore. Heâs now chief executive officer of Orogen Group, an investment firm that he co-founded last year.
âEverything that happens with artificial intelligence, robotics and natural language -- all of that is going to make processes easier,â said Pandit, who was Citigroupâs chief executive officer from 2007 to 2012. âItâs going to change the back office.â
More details in https://www.bloomberg.com/news/articles/...technology
Chanyaporn Chanjaroen
September 13, 2017, 11:57 AM GMT+8 September 13, 2017, 12:54 PM GMT+8
Vikram Pandit, who ran Citigroup Inc. during the financial crisis, said developments in technology could see some 30 percent of banking jobs disappearing in the next five years.
Artificial intelligence and robotics reduce the need for staff in roles such as back-office functions, Pandit, 60, said Wednesday in an interview with Bloomberg Televisionâs Haslinda Amin in Singapore. Heâs now chief executive officer of Orogen Group, an investment firm that he co-founded last year.
âEverything that happens with artificial intelligence, robotics and natural language -- all of that is going to make processes easier,â said Pandit, who was Citigroupâs chief executive officer from 2007 to 2012. âItâs going to change the back office.â
More details in https://www.bloomberg.com/news/articles/...technology
Specuvestor: Asset - Business - Structure.
