https://www.fintechfutures.com/job-cuts-new-hires/wells-fargo-hires-faraz-shafiq-as-head-of-ai
Expect more layoffs as AI is adopted on a large scale. Amazon is laying off 20,000 highly paid corporate workers today, many of whom have AI skills.
14 replies (most recent on top)
ChatGPT, Copilot and Claude walk into a bar…
Time to brush up on my COBOL skills baby!
And we are still paying TK big bucks as we hire more competent people and breaking apart her role? Time for her to be shown the door. Pictures or no pictures blackmail just ain’t worth it.
@bd sounds like there’s no shortage of hallucinations already.
It'll take 10 years to catch up on filling the codebase with hallucinations. We must not allow a slop gap!
"behind" lmao
The bank is already so behind with AI, but isn't that basically true of any tech? WF is always like 10 years behind the innovation curve. Sadly, people will be unequipped to handle new AI job requirements when they are inevitably let go.
@ab Given the connections to Amazon they will bring, it's plausible it will open doors to better tools like CC or Codex. CC especially given the partnership Amazon has with Anthropic. Also, I recently read how even MS employees are increasingly using CC over Copilot, which just validates how bad Copilot and MS AI in general really is.
TK didn't have the chops. I expect this won't make much of a difference though. The brantasaurus has too much inertia. This executive will hit resistance at every turn.
Didn’t / doesn't Saul have a team already with AI in its name? Or was that just more wannabe window dressing?
We use copilot as our AI solution. It's like ChatGPT's id--t little brother. Acting like this will replace all but the execs is just admitting this place is overloading itself with empty suits.
Shafiq will report to Saul Van Beurden, Head of AI and Co-CEO of Consumer Banking and Lending, and work out of San Francisco.
How do we think Faraz will do reporting to Saul?
Yeah. How much we paying this f@@king guy? Won’t go anywhere. We can’t get out of our own way most of the time.
Of course AI boosters will be over-represented in layoffs, they tend to be worthless mo--ns.