How AI & Automation is Impacting the Finance Industry
Yes, because now we did not require human capital to make those thousands of calculations and maintain transactional records on paper. No, because the same automation/innovation helped institutions deploy human capital into more cognitive activities. Thus, finance professionals are here to stay. However, mundane repeated tasks would be automated. The human capital will then be deployed to do more cognitive tasks. This Fin-tech wave, automation etc. is not a new disruption. This has happened multiple times in our lives in the past.
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