Artificial Intelligence Is Superseding Well-Paying Wall Street Jobs

The report by Wells Fargo predicting 200,000 banking jobs in the U.S. will be lost over the next decade—due to the introduction of new technologies

House Financial Services Committee’s Task Force on Artificial Intelligence

According to Marcos Lopez de Prado, the former head of machine learning at AQR Capital Management, algorithms in electronic markets have already automated the jobs once dominated by thousands of traders. and related skills to work along with electronic trading. The need for real-life traders are done and over with. It used to be a fantastic and well-paying job to be a trader—not any longer! There was a time when street kids from the New York City boroughs of Queens and Brooklyn could get an in on the trading floor from a father, family friend or relative. No college degrees were required. It was a rough and tumble place.

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