This Week in Tech with Jeanne Destro

"Stayin' Alive" On Wall Street, In The Age of AI


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Although Wall Street Analysts, Stockbrokers, and Traders already use sophisticated computer programming to help them make what is in some case dizzyingly vast sums of money; rapidly developing Artificial Intelligence (AI) tools could vastly change the way they do their jobs.
On the other hand; they could also completely replace a lot of those jobs, leaving the people doing them today, out of work and wondering how to get back in the game.
That in fact, is a scenario that is going to play out for billions of workers in all sorts of different fields over the next five to ten years, according to AI Developer, Professor, and Author, David Shrier. I talked to him last week about his new book “Welcome to AI: A Human Guide To Artificial Intelligence”, in which he predicts that within five to ten years; unemployment in the US and other countries could hit 30 to 50 percent. (To listen to that interview, click here).
Obviously; that is not the kind of blow that the US, or any other economy could absorb without either buckling, or at least being severely crippled for time, without some sort of serious intervention. He talked about the need for government to step in with a safety net solution, like Universal Basic Income, and large-scale programs to retrain employees so they can work with, and not try to compete against, AI.
With that in mind; I approached Kent State University Finance Professor, David Pelleg, about how they adapting to the new and at this point, still nascent technology, so that when their students who may be headed to jobs on Wall Street after graduation, will have the kind of AI-related skills they need to grow and prosper, despite the major changes that lie ahead.
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This Week in Tech with Jeanne DestroBy Jeanne Destro