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re: 30% of Banking Jobs will Disappear in the next 5 years
Posted on 9/13/17 at 11:00 pm to DoUrden
Posted on 9/13/17 at 11:00 pm to DoUrden
80's song about technology and capitalism destroying music.
It's a metaphor. What technology did to music is being done to everything now.
Somewhere in a dark Irish manor, Bono is laughing at us, as he swirls his whiskey.
But this isn't Bono, it's Rush.
LINK
"Emotional feedback on timeless wavelengths bearing a gift beyond price, almost free."
"All of this machinery making modern music can still be open hearted. Not so coldly charted it's really just a question of your honesty, yeah your honesty"
"One likes to believe in the freedom of music but the glittering prizes and endless compromises shatters the illusion of integrity"
I would explain it, but I feel like I would be insulting the intelligence of those who get it without explanation.
It's a metaphor. What technology did to music is being done to everything now.
Somewhere in a dark Irish manor, Bono is laughing at us, as he swirls his whiskey.
But this isn't Bono, it's Rush.
LINK
"Emotional feedback on timeless wavelengths bearing a gift beyond price, almost free."
"All of this machinery making modern music can still be open hearted. Not so coldly charted it's really just a question of your honesty, yeah your honesty"
"One likes to believe in the freedom of music but the glittering prizes and endless compromises shatters the illusion of integrity"
I would explain it, but I feel like I would be insulting the intelligence of those who get it without explanation.
0
Posted on 9/13/17 at 11:04 pm to deeprig9
quote:
White collar jobs taken by H1B.
Desk jobs automated by computers.
automatons will in fact eliminate a lot of jobs.
there are less than 500,000 H1B visas.
Posted on 9/13/17 at 11:42 pm to DavidTheGnome
quote:
There was a thread about this a few weeks ago in the Politics section about this that was interesting. It's not just banking jobs in danger but essentially all jobs. Even well paying ones like doctors.
Yeah. It went from people pointing and laughing at fast food workers to a bunch of puckered assholes.
Posted on 9/13/17 at 11:43 pm to deeprig9
Can confirm.
* former data scientist for investment firm
* former data scientist for investment firm
Posted on 9/14/17 at 1:24 am to deeprig9
I'm so tired of this.
"the world is going to shite because machines are doing things that humans use to do"
Well who's building, programming, and maintaining the fricking machines???
And apply that logic backwards. If automation is bad, shouldn't the inverse be good? Why are we using these backhoes to dig something when we could just hire 100 people to do it with shovels in three days.
Also, people who's jobs have been displaced by technology don't just fall into an employment abyss. They are then free to pursue employment elsewhere.
What we need to focus on, from both sides of the isle, is getting government funding into job re-training programs. We need to be teaching coding and software development, not subsidizing 100k student loans for sploiled arse brats to get a degree in art history.
College is not for "molding humans" into whatever the left's values du jour happen to be. College should be about preparing young people for the real world, and the real world is changing, as it always has been.
You can either change with it, or be left behind.
"the world is going to shite because machines are doing things that humans use to do"
Well who's building, programming, and maintaining the fricking machines???
And apply that logic backwards. If automation is bad, shouldn't the inverse be good? Why are we using these backhoes to dig something when we could just hire 100 people to do it with shovels in three days.
Also, people who's jobs have been displaced by technology don't just fall into an employment abyss. They are then free to pursue employment elsewhere.
What we need to focus on, from both sides of the isle, is getting government funding into job re-training programs. We need to be teaching coding and software development, not subsidizing 100k student loans for sploiled arse brats to get a degree in art history.
College is not for "molding humans" into whatever the left's values du jour happen to be. College should be about preparing young people for the real world, and the real world is changing, as it always has been.
You can either change with it, or be left behind.
This post was edited on 9/14/17 at 1:27 am
Posted on 9/14/17 at 1:34 am to deeprig9
quote:
Labor provided by immigrants.
White collar jobs taken by H1B.
wasn't trump supposed to do something about this?
Posted on 9/14/17 at 1:50 am to deeprig9
quote:
As a parent of a young child, do you push them into engineering?
degrees are broad so worthless. trade/field specific education will be the rage. we are headed back to the times of apprenticeships because everyone is "generally educated".
Honestly, my GF is NOT bright. i would be surprised if she got a question on jeopardy right, she can't change the ink cartridge in her printer, she had $27k in credit card debt that she floated on minimum payments for 3 years because she thought that the minimum payment was all that she could pay, like there was a rule that you couldn't pay more.
She's in the medical field making $75 hour. I guess people will spend everything they've given their life for to live a few more years.....that selfishness won't change, and "personal service" will be demanded. So steer them toward medicine.
Posted on 9/14/17 at 2:07 am to CelticDog
quote:
there are less than 500,000 H1B visas.
There are more. We've issued 514k in just the last three years, because the 85k cap doesn't apply to many recipients. The H1B gets an automatic extension to six years, then it's year to year while they wait for permanent status. There are definitely more than 500k.
And most of them do end up as permanent residents. That's somewhere between 4 and 5 million since program began, and most still live and work here.
For the record, I like the H1B program, but the salary floor on it needs to be much higher.
Posted on 9/14/17 at 4:51 am to deeprig9
I can believe it - as someone who works for a banking software company, I know in the last 7 to 10 years, new teller technology has been developed that can effectively eliminate the back office positions of Book Keeping staff by automating the work at the point of the transaction with the Teller.
now Vendors are developing standalone, all-in-one machines that can handled all the transactions they would like to do through a touchscreen display - once these really get going, it will begin to eliminate Teller Staff as well.
will be interesting to see what the next 10 years holds.
now Vendors are developing standalone, all-in-one machines that can handled all the transactions they would like to do through a touchscreen display - once these really get going, it will begin to eliminate Teller Staff as well.
will be interesting to see what the next 10 years holds.
Posted on 9/14/17 at 4:56 am to Thracken13
quote:
will be interesting to see what the next 10 years holds.
Crippling unemployment?
Posted on 9/14/17 at 5:28 am to deeprig9
No doubt. I work Right now on banking tech and they're pushing for it at an incredible rate. I was in a meeting recently and people were throwing around ideas and it was fascinated my because they literially threw out ideas that would make them obsolete so most of their team would be out of a job.
Posted on 9/14/17 at 5:38 am to DavidTheGnome
quote:
There was a thread about this a few weeks ago in the Politics section about this that was interesting. It's not just banking jobs in danger but essentially all jobs. Even well paying ones like doctors.
I've been warning about this for years. A lot of those threads have been on the tech board but a few have been here. The robots and AI taking everyone's job to the point where something like Universal Basic Income might be necessary isn't breaking news. What's coming is going to be very disruptive.
This post was edited on 9/14/17 at 5:40 am
Posted on 9/14/17 at 5:55 am to boxcarbarney
We have two neighbors (Husband and Wife) who moved from California to DFW to avoid layoffs, within four months the Husband was laid off.
Bank of America I believe which moved from Cali to Dallas
Bank of America I believe which moved from Cali to Dallas
Posted on 9/14/17 at 6:13 am to Ancient Astronaut
quote:
I always chuckle when the bank tellers keep asking me why I don't use their automated machines. I'm trying to save your job.
Id love to know where you bank that provides the luxury of time to chat. Chase and Capitol One are usually so understaffed that by the time I get to the teller window, all I want is to complete the transaction- the hell with conversation. To that point, seems the banks are pretty close to eliminating tellers all together. They sure don't seem to have enough whenever I go to a bank.
Posted on 9/14/17 at 7:48 am to tigerinthebueche
quote:
Id love to know where you bank that provides the luxury of time to chat. Chase and Capitol One are usually so understaffed that by the time I get to the teller window, all I want is to complete the transaction- the hell with conversation. To that point, seems the banks are pretty close to eliminating tellers all together. They sure don't seem to have enough whenever I go to a bank.
same here. last time I tried to make a deposit and withdraw cash at a capitol one drive through, the teller kept on tell me my math was wrong. after going back a fourth a few times I ask for my check back and told her she can watch me complete my transaction at the ATM in the parking lot.
its the stupids the banks employ that are causing the downfall of the typical bank brick and mortar locations.
Posted on 9/14/17 at 7:51 am to Kujo
quote:
Honestly, my GF is NOT bright. i would be surprised if she got a question on jeopardy right, she can't change the ink cartridge in her printer, she had $27k in credit card debt that she floated on minimum payments for 3 years because she thought that the minimum payment was all that she could pay, like there was a rule that you couldn't pay more.
She's in the medical field making $75 hour.
Sales?
Posted on 9/14/17 at 8:19 am to deeprig9
quote:
This is really bad.
Eh. Call me when a computer can build and maintain personal relationships with buyers to increase POs.
Posted on 9/14/17 at 8:21 am to deeprig9
quote:
As a parent of a young child, do you push them into engineering? Because now engineers are coming out of India. Do you push the child into military? What do you push them into? Let them choose their own path?
In the next 10 years we're all going to be slaves to our own creations.
It's all been written. It is coming, and it is sad.
Push them where their talents are strongest
Natural leaders should go business
Good math scores should go finance, computer science or engineering
Artsy should go graphic design
Athletic should go Kinesiology or PT
All these doomsday predictions aren't designed for accuracy, they are designed to make you click the article
Posted on 9/14/17 at 8:25 am to deeprig9
quote:Current BLS Employment Figures
30% of Banking Jobs will Disappear in the next 5 years
According to the most recent employment figures from the the Bureau of Labor Statistics, commercial banking actually added about 10,000 jobs year over year. And financial activities across the board added 150,000 jobs.
Now all of a sudden they are going to start shedding almost 7% of these jobs on average over the next 5 years, as a natural trend--rather than a severe recession or something?
Posted on 9/14/17 at 8:25 am to deeprig9
90% of horse shoeing jobs will be lost with this thing called a car....
Society finds a way to move on
Society finds a way to move on
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