Thread regarding Bank of New York Mellon Corp. layoffs

AI Backup Plan

Does leadership have an AI backup plan? So many companies are realizing AI isn’t going to save them any money. It’s producing too low quality of code and is costing too much in compute. The biggest misconception for people is that AI is already an AGI. These models are LLMs and only know what patterns they’re trained to understand. They just don’t get a deep understanding of enterprise code.

AI is still awesome to have in the workplace. Its understanding of documents and Eliza features like proof of concept apps are cool. But let’s be realistic, it’s not replacing anyone. If it has, BNY might regret it later.

Does leadership see this at all? Or will they die on the AI hill since our senior leadership team and CEO talk about AI so publicly? I think they need to loosen their expectations.


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| 12861 views | | 7 replies (last August 29) | Reply
Post ID: @OP+1k3agq5c2

7 replies (most recent on top)

@e4 or the younger employee

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Post ID: @17q+1k3agq5c2

You forgot what all the acronyms stand for!

AI - An Indian
GPT - Gujarati Professional Typist
LLM - Low-Cost Labor in Mumbai
AGI - A Genius Indian

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Post ID: @15c+1k3agq5c2

AI is for show. It's to make BNY look like an industry leader. It's also used as motivational tool to scare employees that their jobs are at risk. The plan and only plan is to move as much as possible to India.

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Post ID: @ep+1k3agq5c2

Cmon now this is the “agile way”. Its amazing

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Post ID: @e5+1k3agq5c2

The AI back-up plan will be... the Indian guy you're currently training to replace you.

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Post ID: @e4+1k3agq5c2

I don't think leadership has the foresight or presence of mind. They are clearly focused on very short term effects that benefit them directly before they cash out. Money is always better than human beings.

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Post ID: @bm+1k3agq5c2

Back up plan schmack up flam… who needs it when Robin thinks he can just belch out orders. AI is actually going to sink this firm. Why? We have too many legacy apps that are built on human and client human interaction. AI is not going to help with the half dozen accounting systems. AI will never handle foreign deposits and foreign overdue income. AI cannot solve bad client custody instructions that by law the client must correct. AI cannot be permitted to cover audits and approvals. This firm is not 100% straight through processing and wont be as long as the legacy apps and processes and clients that demand custom products are in place. And… when we get to a tipping point on severing the brains and know how on the current platforms, it is going to be a spectular fail. Our current leadership wont die on the hill. They will cash out and hit their eject buttons with golden parachutes in place. Our board will be the ones that cannot escape. It will be great to see.
We’ve already struck the iceberg. The water is still down in the lower decks for now.

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Post ID: @a3+1k3agq5c2

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