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Mike Daly

| less than a minute read

Fintech increases revenues & not a job destroyer

"Whether the displacement of human labour by automation is, as is often depicted, another nail in the manual coffin seems a moot assertion. But what cannot be denied is its increasing role across the financial services (FS) sector, with some players even seeing automated environments as a panacea."

Financier Worldwide April 2017

Only 20% companies plan to shed labour which indicates the goal is to raise productivity, revenue and re-educate & improve skills of employees. In fact could be the start of eliminating meaningless jobs.

See:-  AI eliminating meaningless jobs


The Infosys survey further reveals that: (i) 76 percent of senior decision-makers believe AI is fundamental to the success of their company’s strategy; (ii) by 2020, those currently or planning to use AI technology anticipate a 39 percent boost to their company’s revenue, on average; and (iii) eight in 10 companies that have replaced, or plan to replace, roles with technology will retrain or redeploy those who are displaced.

Tags

fintech, digital disruption, digital transformation, insurtech