The Robots Are Coming for Wall Street

This one looks at the question of automation from the perspective of the financial trading industry. 

The money quote:

Carl Benedikt Frey, the lead author of the 2013 study on automation, has done more recent research indicating that innovations are no longer providing as big a boost to the economy and the labor force as they did in the past. In a paper he published last year with Thor Berger, a Swedish academic, he found that in the 1980s, a large portion of the American work force was going into job categories that did not exist a decade before; IBM, in other words, was hiring. That movement, though, slowed down in the ’90s and went practically to zero between 2000 and 2010. To the degree that there are new jobs, Frey’s data suggests that they are often lower-paying ones that serve the wealthy elite, in roles like personal trainer or barista.

‘‘Technology is becoming more labor-saving and less job-creating,’’ Frey said.”


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