Sure, AI has it's place, but it's not a solution for everything. Employees are raising real, valid concerns: rising costs, the need for more flexible work arrangements, job security, and clarity around salaries and bonuses. Redirecting those concerns to AI is just proving, yet again, employee input isn't being heard or valued.
8 replies (most recent on top)
A major recession is coming. We're going to be down for ten years. Only people who can leverage AI to be highly productive will survive. Companies will increasingly build processes that run with minimal headcount. Sales and operations functions will see steady headcount cuts.
Asset management itself probably won't shrink — predicting the future (which stocks will go up) is something even AI can't do. That said, consolidation among asset managers will accelerate, and it's going to be a brutal era, no question.
We're cash-rich, so we're relatively better positioned, but there will absolutely be more rounds of layoffs going forward. People with real ability will get paid well — it's actually an opportunity for them. People who can only work the way they always have are in trouble.
Senior people need to change how they work, fast. Otherwise, on pure output, they'll straightforwardly lose to juniors. Up until now, seniors could get away with taking credit for junior work, but that's not going to fly anymore. People who can actually wield AI are going to produce overwhelmingly better results. Honestly, it's too late to start studying AI now. The people who can actually use it have been hammering away at it forever and know it inside out — that gap isn't closing. The daily accumulation suddenly shows up in results one day, and by the time you panic, it's already too late. The ability to wield AI isn't something you pick up overnight. It's built on everything you've done up to this point.
If AI is good at investment, T Rowe will be out of business because everyone can create and get a fixed income from their own AI investment system. No middlemen will be needed.
Id--ts won't be able to harness AI, while people who are genuinely good at their jobs will leverage it and thrive more than ever. The real abilities of those who've been underestimated until now will finally become clear, and on the flip side, the masks will come off the loud-mouthed psychopaths who've been overrated all this time. The ones who can't use AI are going to try to drag down the ones who can, so you'd better have countermeasures ready.
The fact that people who can’t use AI are becoming obsolete isn’t just a company trend — it’s a broader societal shift, so there’s nothing to be done about that. The real problem is that our own executives and leadership are exactly those people: clueless id--ts who can’t actually use AI either.
@OP Right now AI is everything and can do lot of things. the Leadership wants to impose whether anyone likes it or not and reduce the head count to show profits and improve their pay in millions.
It’s very simple. Any exec who doesn’t go not on AI is considered a dinosaur and will get eliminated. So they talk big on AI without understanding anything about it
They are really high in AI aren't they? I remember when Kim was still here and there was an "Ask Me Anything". People in office were talking about asking questions about WFH, potential layoffs, company outlook, etc. People were worried about their jobs, but when we logged into the meeting, we were told that "only AI questions would be answered". It was a gut punch and showed they do not care who is unhappy. They can be replaced by a bot or an Indian national.
That's because they see AI as replacing you!