Robots Are No Match for the Human Bond Trader
Robots can't do all finance jobs.
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If there's one crowded trade in the finance industry, it's predicting the automation of bank jobs.
The former head of Citigroup Inc., Vikram Pandit, reckons three out of 10 bank staff will be replaced by a machine. Deutsche Bank AG's CEO John Cryan, meanwhile, has called for a "revolutionary spirit" among his troops as computers replace a "big number" of people. In an industry still hampered by weak profit a decade after the financial crisis, you can see why executives are seduced by the idea of using automation to become more efficient and productive.