Robots to replace 200,000 US jobs in banking in 10 years

5E0AFA0D-CE68-4212-B74C-AFE44A0ACA27

As the September jobs report looms, a recent report from Wells Fargo is casting a bleak light on the future of banking jobs.

The report revealed that robots are likely to reduce headcount by 200,000 over the next decade throughout the financial industry in the U.S. Wells Fargo’s Mike Mayo spoke to Yahoo Finance’s On The Move this week and said banks will be investing significantly in technology over the next 10 years.

“The next decade should be the biggest decade for banks in technology in history. You’re about to see the biggest capital for labor swap in history,” Mayo said.

Continue reading… “Robots to replace 200,000 US jobs in banking in 10 years”

0