Thread regarding Wells Fargo & Co. layoffs

All of this rests on OP assumptions about artificial intelligence evolution.

Can it tell me how to win the lottery?

Notice how AI is never predicted to replace the wealthy who occupy executive roles?

If AI can do a thinking man's job, why can't it negotiate business deals?

Why can't it make investments instead of prop traders?

Why can't it manage long-term business execution strategy?

Notice how it's only to replace labor.

@ep+1k5j3kt9r

Funny, I'm also glad you're not contributing to the gene pool! High fives all around.

@a4+1k5j3kt9r

EXACTLY my thought. And I am happy to not be leaving any kids to deal with what is going to become of not only employment, but what this country is going to turn into with the mess being made by the Cheeto.

lol. Assume everything is true and accurate posted, it completely ignores all of the gaps that are generated by the AI replacements. Do you think the entire supply chain for a tractor trailers tire will suddenly be automated? No. One tiny, finite example : Replacement of drivers increases the number of vehicles in motion due to efficiency gains equals an increased scrutiny on and need for consumables (no more flip flop mafia driving on WhateverChinaBombsUntilItBlows as every wear item is tracked and PM is mandated) therefore a increased production of tire demands more skilled labor in design, production, stock, installation and waste handling.

The positions don’t magically disappear, the loads are only shifted. There are efficiency gains to be had everywhere but you aren’t going to build a production line in 20 years much-less 3-5 that can support a tractor pulling into a repair facility, be lifted, caps popped, lugs removed, tires changed and the reversed accomplished. Far too many variables and too much detail work to accomplish. So IF just this one segment of drivers were replaced it would generate an equal number of employment positions across the fields needed to support the overlords.

That's where I am. IF AI replaced most jobs in our sector, WF will be, by far, the last major bank to actually leverage it. If JPM does it in 3 years, it'll take 10 for WF. The lack of vision and skill here in the upper ranks is shockingly bad. Sure, they want to downsize people and reap the rewards AI could bring, but they have no clue how to make that happen. None. We will likely need an entirely new OC to even start heading in the right direction. The HY clique is a failure in every way, other than enriching themselves personally. That they can do.

No worries. TK has no intelligence to build even artificial ones. Your jobs are safe.

@a5 There is for sure a market bubble, but not a progression bubble, or wall, yet. If the bubble bursts, which eventually it will, there will be a lag effect on progression, because so much of the investment is already in motion now.

Consider self-driving cars. It's taken about 20 years to get to where we are today, if you go by the DARPA initiative in the mid 2000's. It's a really hard problem to solve and the practical application of the tech is only now starting to emerge (waymo, zoox, tesla, etc).

I somehow doubt automating your job is even remotely as hard to solve.

It will take a while for adoption to diffuse through the economy, but it's going to happen faster than self-driving cars, because the tech is basically here. The 3-5 year timeline is probably pretty accurate.

You might want to keep an eye on this: https://metr.org/blog/2025-03-19-measuring-ai-ability-to-complete-long-tasks/

Note the timeline from your Chat-GPT comment being 3 years ago (really not that long) and look at the super exponential of that chart. Now consider what the implications are when AI can do 3-4 hour tasks, your tasks, in just a few years time.

Here's another one: https://epoch.ai/data-insights/context-windows

Note the ever increasing context window size. Once businesses figure out how to get their data in order (WF will be behind in this, I'm sure), then you're entire job will be able to get loaded into AI in a single prompt.

Furthermore, hallucinations are almost fully resolved. In fact, AI is probably right more often than your average worker (you) today, and there have been recent papers suggesting methods of improving it further. Add in agentic AI and tool use and suddenly it starts to become clear that the technology is basically good enough to replace a shitton of workers today. Data and adoption rates are the biggest bottlenecks, but realize it's one of the fastest growing technologies in human history.

Lastly, you have CEO's saying they are reducing their workforce due to AI today. It's already starting.

Lol, dude chatgpt has been out for like 3 years and replaced almost no one, and that's with a massive ramp and free usage. Good luck with all these jobs being replaced overnight in 3-5 years, those are comical projections. That doesn't even factor in the data feeds have run to a trickle. Only thing coming is a massive tech stock crash.

I'm fine with those timelines. Won't need a job anyway at that point.

governments will be faced with two options: let society fall apart or start handing out money. they’ll hand out the money. ubi will begin as emergency relief, similar to the covid stimulus. it’ll be framed as a “temporary measure” to help people “adjust.” but adjust to what? once ai outperforms humans at everything, there’s nothing left to adjust to.