{"id":97066,"date":"2019-10-05T06:02:29","date_gmt":"2019-10-05T13:02:29","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2019\/10\/goliath-is-winning-the-biggest-u-s-banks-are-set-to-automate-away-200000-jobs"},"modified":"2019-10-05T06:02:29","modified_gmt":"2019-10-05T13:02:29","slug":"goliath-is-winning-the-biggest-u-s-banks-are-set-to-automate-away-200000-jobs","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2019\/10\/goliath-is-winning-the-biggest-u-s-banks-are-set-to-automate-away-200000-jobs","title":{"rendered":"\u2018Goliath Is Winning\u2019: The Biggest U.S. Banks Are Set to Automate Away 200,000 Jobs"},"content":{"rendered":"<p><a class=\"aligncenter blog-photo\" href=\"https:\/\/lifeboat.com\/blog.images\/goliath-is-winning-the-biggest-u-s-banks-are-set-to-automate-away-200000-jobs2.jpg\"><\/a><\/p>\n<p>Over the next decade, U.S. banks, which are investing $150 billion in technology annually, will use automation to <a class=\"\" data-ga=\"[[\u201d Embedded Url\u201d,\u201d External link\u201d,\u201d https:\/\/www.bloomberg.com\/news\/articles\/2019-10-02\/robots-to-cut-200-000-u-s-bank-jobs-in-next-decade-study-says\u201d,{\u201cmetric25\u201d:1}]]\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-10-02\/robots-to-cut-200-000-u-s-bank-jobs-in-next-decade-study-says\">eliminate 200,000 jobs<\/a>, thus facilitating \u201cthe greatest transfer from labor to capital\u201d in the industry\u2019s history. The call is coming from inside the house this time, too\u2014both the projection and the quote come from a recent Wells Fargo report, whose lead author, Mike Mayo, <a class=\"\" data-ga=\"[[\u201d Embedded Url\u201d,\u201d External link\u201d,\u201d https:\/\/www.ft.com\/content\/baf3297a-e456-11e9-9743-db5a370481bc\u201d,{\u201cmetric25\u201d:1}]]\" href=\"https:\/\/www.ft.com\/content\/baf3297a-e456-11e9-9743-db5a370481bc\">told the <em>Financial Times<\/em><\/a> <em> <\/em>that he expects the industry to shed 10 percent of all of its jobs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Over the next decade, U.S. banks, which are investing $150 billion in technology annually, will use automation to eliminate 200,000 jobs, thus facilitating \u201cthe greatest transfer from labor to capital\u201d in the industry\u2019s history. The call is coming from inside the house this time, too\u2014both the projection and the quote come from a recent Wells [\u2026]<\/p>\n","protected":false},"author":359,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1878,45,6],"tags":[],"class_list":["post-97066","post","type-post","status-publish","format-standard","hentry","category-employment","category-finance","category-robotics-ai"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/97066","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/359"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=97066"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/97066\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=97066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=97066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=97066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}