> It will be the same with AI. If you apply enough bright people's mind for long enough, we can possibly automate certain niche jobs, but that's going to be completely uneconomical.
The thing is, it doesn't have to be an all-or-nothing proposition. If you can write software to make a team of ten traders 10% more productive, it may be possible to do the same job with only 9 traders.
Over time, those productivity gains compound and you have literally cut in half the number of people on your trading floor.
AI is a very flexible term, all software that makes choices technically qualifies as AI even if the benchmark is moved over time. But, remove the buzzards and rejecting a loan using a single if statement based on a Fico score really is machine decision making at work.
The thing is, it doesn't have to be an all-or-nothing proposition. If you can write software to make a team of ten traders 10% more productive, it may be possible to do the same job with only 9 traders.
Over time, those productivity gains compound and you have literally cut in half the number of people on your trading floor.