As noted some years ago:
"Commerzbank Replacing Human Research Analysts With Artificial Intelligence"
Sorry, that's a bridge too far, it's time to smash thelooms'puters.
(metaphor party mix)
From the New York Post, June 23
Goldman Sachs said Monday it will roll out an artificial intelligence tool that could be used to take over tasks traditionally done by junior bankers — fueling ongoing fears the technology could soon eliminate entry-level jobs.
AI will be used to generate efficiency gains in the Wall Street giant’s Investment Banking and Wealth Management divisions by helping employees with everyday tasks, according to an internal memo circulated to staffers viewed by The Post.“Today marks an important moment in our AI journey as we are excited to announce the firmwide launch of the GS AI Assistant – the first generative AI-powered tool to reach this scale,” Goldman Sachs CIO Marco Argenti said in the company-wide missive.
The David Solomon-led financial powerhouse had previously rolled out the tech to about 10,000 of its estimated 46,500 global employees.
“Thousands of our people are already using the GS AI Assistant, and I hope all of you will start exploring how the tool can positively impact your daily tasks and boost productivity, from summarizing complex documents. and drafting initial content to performing data analysis,” Argenti said in the memo.
A Goldman spokesperson declined to say whether the AI adoption will augur future job cuts.
“Our people are our most valuable asset. We view AI powered tools as helping them be more efficient and enabling them to serve our clients even better,” Nick Carcaterra told The Post....
....MUCH MORE, Cliff Asness of AQR does a show-stopping cameo.
We've taken a keen interest in these developments:
Artificial Intelligence and the Role Of the Literary Critic
First they came for the literary theorists and I did not speak out because--well, you know the drill.*
*First they came for the journalists and I did not speak out-
Because I was not a journalist.
Then they came for the ad agency creatives and I did not speak out-
Because I was not an ad agency creative. (see below)
Then they came for the financial analysts and I
said 'hang on one effin minute'.
- *"We Trained A Robot To Write Like Tom Friedman"
- The Associated Press Is Leading the Charge to Deploy Robo-journalists
- According to the AP, no journos were harmed in the making of this venture
- Automating the Newsroom: The AP's Robot Copy Editor
- "AP's 'robot journalists' are writing their own stories now"
- Robo-journalists: Beyond the Quakebot
- And Here Come the Robo-journalists "The CIA Invests in Narrative Science and Its Automated Writers"
- Robot Lobbyists Say Robots Good, Create Jobs
- Sure, MoneyBeat Says Their Posts Are Not Written by Robots But How Can We Know?
- Automation Steals Jobs: Röböts Playing Motörhead
- Washington Post considered using robot sportswriters
- A Deep Dive Into the Future of RoboAnalysts (will entry level hedgies still command $353K to start?)
- A Job the Robots Won't Take: Become a Financial Charlatan
- Robot Writing Moves from Journalism to Wall Street
- "The automation of creativity: scary but inevitable"
Though, as we saw in 2017:
Still a Few Bugs in the Robo-Journalist Algorithm
From the Los Angeles Times' twitter feed:
Please note: We just deleted an automated tweet saying there was a 6.8 earthquake in Isla Vista. That earthquake happened in 1925.
— L.A. Times: L.A. Now (@LANow) June 22, 2017
The comments are surprisingly kind, e.g.
I'm really shaken up by this news.
Who's fault is this?
Richter must be rolling over in his grave.
In a state of after-shock.
2017, it was a gentler time.
