I don’t know where it started but someone in the banking sector painted a picture with golden rainbow of return via AI. All the banks all jumped on board with such a claim so as to not be left out.
Well its not panned out for any of them at all. Now, to make the shareholders happy $ has to be found. It’ll be done by way of layoffs. The first quarter of next year for all banks will be a bloodbath. All banks that made AI promises will be passing out pink slips left and right.
No one said that AI is out of play, but rather, this huge AI revenue generation hasn’t taken place as promised….RIGHT NOW. It has not been an immediate “thing” to take place. To save face, what can be done TO get that huge influx of revenue that’s expected….hmmm..I wonder what…..what could possibly be done…..hmmm….thinking….oh, yeah, the old chop some heads always seems to work.
@bq with assumptions like those, it's impressive you managed to write a full sentence.
@bf
(Your) AI is not attempting to start a new paragraph. And if the paragraph starts with lowercase, then it means you started it that way AND you have auto-correct turned off.
This isn't unique to banking
@am So AI is the reason my autoincorrect has gotten so bad and tries to start new paragraphs with lowercase letters?
I can't hardly wait to see that take over the world.
@aa - former employee here, we moved and shuffled several times within Pivotal Cloud Foundry... memory/space issues forced more moves... then in 2024 under BE, all this work was abandoned in favor of IBM Openshift and the whole process was started again. Colossal waste of time and effort, start with leadership's lack of vision for the inefficiency.
AI may be used but its not the money generator it was sold to be, at least not yet anyway.
There’s only way to find out, wait and see what happens on Q1.
What a horrible post...
You are ignorant on AI... AI is what drives modern chat bots, automated search engine results, etc. AI drives word/sentence prediction in apps.
All are being utilized today with great success.
Actually JPMs AI investments will be in the green soon, if not already.
AI was promised to radically decrease the need for labor participation in the workforce, which would drastically increase profits. A bunch of money piled into that promise and expects a return on that investment, so the banks will do whatever they can to make it happen, since a few guys who are "running" those banks need to keep being overpaid to make bad decisions on marketing information from other overpaid guys.
CEOs are the worst about falling prey to FOMO.
Artificial Intelligence (AI) is good for the bank but offshoring/All Indian (AI) is not.
Ordering AI integration from the top down is just plain d-mb. Let the engineers figure out how to integrate and where it makes sense. Turn it into a contest! Reward employees for the great ideas.....now there's a thought!
I've found uses for AI in my personal life. I've found uses for some of my tasks at work. It is indeed cool and helpful, in some cases a giant time saver.
Unfortunately - you all know this, WF will take the worst possible path and subsequent outcome. Just like Agile, just like Cloud...just like (you fill in the blank).