- Automated technologies could have a big impact on 60% of Wall Street jobs, according to a new report by McKinsey, the consulting firm.
- Integration of new technology doesn't guarantee big revenue spikes, but it is necessary to keep firms afloat in the digital age. Some big firms are already taking action.
The robots are coming for Wall Street's jobs, and McKinsey & Co has an idea of exactly what jobs they are coming for.
The consultancy has published a report, titled Cognitive Technologies in Capital Markets, examining the areas of corporate and investment banking that are ripe for automation via machine learning, artificial intelligence, and natural language processing tools. These tech buzzwords have become commonplace on Wall Street, but essentially they all do something very similar: mimic human intelligence.
Read Complete Article