Banks to Lose 200,000 Jobs Due to Automation Over Next Decade, Analyst Mayo Says

  • Published on Oct 22, 2019
  • Oct.22 -- Michael Mayo, Wells Fargo Securities senior bank analyst and head of U.S. large-cap bank research, discusses the outlook for financial technology's impact on the banking industry with Bloomberg's Taylor Riggs on "Bloomberg Technology."

Comments • 28

  • siegfried greding
    siegfried greding 7 days ago

    Yeah banks will have a bunch of employees standing around waiting to take phone calls yeah right. Nope this means massive layoffs and making the rich richer using the technology they took from our society and privatizing it for their own personal gain
    Capitalism has to go.

    EVGHENII GUTU 18 days ago

    How i understand after this shriking i think can appears online banks with another emploees. It is will be another competition.

  • Brian Pan
    Brian Pan 20 days ago +5


  • Alex O
    Alex O 20 days ago +1

    Like the rest of the fake news industry, Bloomberg hasn't gotten one single prediction correct about the Trump economy 😂

  • David Heller
    David Heller 20 days ago

    We need artificial general intelligence!

  • David Heller
    David Heller 20 days ago

    Don’t say the A word.

  • David Heller
    David Heller 20 days ago +1

    I can see one day living in a utopia automated society press the tablet to order food and drinks by robots. Digital human employees in call centers!

  • Yu Global Citizen
    Yu Global Citizen 21 day ago +14

    Andrew Yang is right

  • Phoenix love
    Phoenix love 21 day ago

    Oh well no jobs no one to buy anything ..

  • Specter Makoto
    Specter Makoto 21 day ago +5

    Don't be lame Get yanged

  • Abu Feras Abdullah
    Abu Feras Abdullah 21 day ago

    Totally agree, it’s archeological Mick

  • Joel Bondurant
    Joel Bondurant 21 day ago +3

    Hooray!!! Great news!

  • Paul Tremblay
    Paul Tremblay 21 day ago +1

    When nobody work and can't deposit, am guessing that robots will

  • Fun Tube
    Fun Tube 21 day ago

    20 plus online jobs available here with handsome sallery packages

  • robert lee
    robert lee 21 day ago +25

    So, Andrew Yang has been telling truth all these time?

    • robert lee
      robert lee 10 days ago

      @izdatsumcp you are an idiot. I see supermarket, lottery centre all have self service pay out machine.
      Everything is being done by computer.
      Many of traditional lower end jobs will be gone

    • izdatsumcp
      izdatsumcp 10 days ago

      @robert lee No, you're ignorant. If AI generates further AI, it makes us further efficient, things even cheaper and frees up income to spend on new things and creates new jobs. The only way AI is a problem is if it can do everything a human being can possibly do to satisfy our wants and is going to do all that in the very near future. Both of these things are very difficult to prove, if not impossible, and Yang is full of shit, plus a commie.

    • robert lee
      robert lee 17 days ago +1

      @C G you are ignorant if you don't understand the AI.
      AI will have ability to generate further AI.

    • C G
      C G 17 days ago

      Jobs go away and new jobs are created. We don’t have telephone operators or street light candle lighters anymore yet unemployment’s under 4%

  • m6m17
    m6m17 21 day ago +3

    tech is losing in white collar job too?

  • Christoher Gomez
    Christoher Gomez 21 day ago +10


    • I am a
      I am a 18 days ago

      He is Chinese spy

  • allowedme
    allowedme 21 day ago +13 has the perfect solutions.

  • Kev Ngu
    Kev Ngu 21 day ago +21

    #google andrew yang #yang2020

  • PG Beats
    PG Beats 21 day ago +2

    Banks using xrp.

  • Swymco
    Swymco 21 day ago +7

    The hoody observation was pretty funny.

  • raphael francis AMIGO
    raphael francis AMIGO 21 day ago +1

    banks will use ripple

  • LuciD AYS
    LuciD AYS 21 day ago