Finance professionals fear for their future due to AI.
According to industry workers, as many as 30% of people may lose their jobs within three years.
Three out
of four representatives of the financial industry fear that artificial
intelligence (AI) may take away their jobs sooner or later. Moreover, 20% of
finance professionals are "terrified" by AI tools' current
capabilities and the pace of development.
Financial Specialists Are Afraid AI Will Take Their Jobs
As shown by
the latest research conducted by FintechOS, almost 73% of financial
industry employees from Great Britain and the USA are convinced that generative
artificial intelligence (GAI) will make their work redundant.
GAI is a
type of AI focused on creating new, original content, such as text, images,
audio, and video. It leverages techniques like neural networks and transformers
to analyze patterns in data and generate new output that mimics the style and
structure of that data.
Nearly 60%
believe the technology will lead to job losses within the next three
years, and employment could be reduced by up to 30%.
"GAI
will boost revenues but inevitably reshape the workforce and displace jobs,"
said Teodor Blidarus, the Co-Founder and CEO at FintechOS.
Currently,
almost every second company invests in GAI research and implementation of
solutions based on artificial intelligence. On average, financial companies in
Great Britain allocate between £800,000 and £1.6 million for this purpose.
Younger Employees Are Excited, Older
Terrified
The paper
titled "Generative Artificial Intelligence: The Technology Polarising the
Financial Services Industry" showed that it is mainly older employees who
are concerned about their future. Younger industry representatives suggest,
however, that the new technology is "exciting."
Most
representatives of the age group up to 44 called artificial intelligence a
"friend.” In the case of financiers over this age, the majority described
AI as a "foe."
"Every
financial institution has started its GAI journey, and it's imperative to take
the first step – even if it's a small one – to avoid being left behind,"
Bildarus concluded.
The report
appears when there is a loud reshuffle in the AI market. Sam Altman, the
creator of ChatGPT and the Co-Founder of OpenAI, was fired from his project, only
to be reappointed as the CEO shortly after. The game is played for big money, as
according to experts, the industry will be worth $2.6-4.4 trillion in the near
future.
Three out
of four representatives of the financial industry fear that artificial
intelligence (AI) may take away their jobs sooner or later. Moreover, 20% of
finance professionals are "terrified" by AI tools' current
capabilities and the pace of development.
Financial Specialists Are Afraid AI Will Take Their Jobs
As shown by
the latest research conducted by FintechOS, almost 73% of financial
industry employees from Great Britain and the USA are convinced that generative
artificial intelligence (GAI) will make their work redundant.
GAI is a
type of AI focused on creating new, original content, such as text, images,
audio, and video. It leverages techniques like neural networks and transformers
to analyze patterns in data and generate new output that mimics the style and
structure of that data.
Nearly 60%
believe the technology will lead to job losses within the next three
years, and employment could be reduced by up to 30%.
"GAI
will boost revenues but inevitably reshape the workforce and displace jobs,"
said Teodor Blidarus, the Co-Founder and CEO at FintechOS.
Currently,
almost every second company invests in GAI research and implementation of
solutions based on artificial intelligence. On average, financial companies in
Great Britain allocate between £800,000 and £1.6 million for this purpose.
Younger Employees Are Excited, Older
Terrified
The paper
titled "Generative Artificial Intelligence: The Technology Polarising the
Financial Services Industry" showed that it is mainly older employees who
are concerned about their future. Younger industry representatives suggest,
however, that the new technology is "exciting."
Most
representatives of the age group up to 44 called artificial intelligence a
"friend.” In the case of financiers over this age, the majority described
AI as a "foe."
"Every
financial institution has started its GAI journey, and it's imperative to take
the first step – even if it's a small one – to avoid being left behind,"
Bildarus concluded.
The report
appears when there is a loud reshuffle in the AI market. Sam Altman, the
creator of ChatGPT and the Co-Founder of OpenAI, was fired from his project, only
to be reappointed as the CEO shortly after. The game is played for big money, as
according to experts, the industry will be worth $2.6-4.4 trillion in the near
future.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
TradingView Adds Spread Betting to Its Platform via Spreadex Integration
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
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1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa