> Would be interesting to know the background here, because this is massively counterintuitive. My guesses would be population growth and the increased complexity of financial products.
With those things being automated, I guess banks had to find new ways to differentiate. Sales and relationship management are one of those domains that are highly difficult to automate and hence have a big potential for differentiation.
I see this all the time in related industries where firms are increasingly pushing towards “value added services” because they believe that those are difficult to replicate by competitors through machines (or otherwise). I believe the good news is that this will often indeed lead to higher capabilities and new products / services that people are interested to purchase (banks are maybe a bad example here)
Because a lot of the new jobs were not automatable with the then-current state of technology. Over time, as technology becomes more and more sophisticated, more and more new jobs will be automated from the start.
> Since ATMs were introduced, the number of bank tellers in the US actually went up.
Would be interesting to know the background here, because this is massively counterintuitive. My guesses would be population growth and the increased complexity of financial products.
> AI is only as smart as the data you feed it. Even Google's own search rankings have to have human minders because people are too good at gaming their algorithms.
This is true for humans as well. Humans have a headstart here: We have thousands of years of experience in training humans, but only a few decades of experience training computers.
> AI is only good at the thing that human beings are very bad at - making quick, analytics based decisions.
AI is not the only piece of the puzzle. When combined with mechatronics, AI is good at another thing that human beings are very bad at: performing fast and extremely precise movements. When combined with advanced sensors, AI is good at another thing that human beings are very bad at: transcending human limits of perception (see e.g. LIDAR sensors in automated cars that can see things that a human cannot). And so on.
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I agree with your ending remarks though.