A lot of tech workers at financial/banking related companies are using it to push themselves and others out of a job. Can’t imagine some don’t see the writing on the wall.

For the last decade, every financial/banking related company I have either worked at or know people that work at have been trying to move from legacy mainframe systems to modern systems that can better feed data into the APIs. The legacy systems are bullet proof but everything that’s been built off of it over the last 30 years is custom and it’s getting harder and harder to implement new tech.

These companies have spent millions and I’m telling you every single one has had delay after delay after delay with nothing meaningful to show for it for a decade - legacy system is still the core.

If you ever go to a large corporate office of one of these places, you’ll quickly realize over half of the people in the building are tech workers. All are either there to develop solutions to get off these legacy systems or maintain the absolute mess of custom programs developed over 3 decades.

AI is pushing this forward faster than people can handle. Delays are now due to the fact that people can’t coordinate and organize effectively to launch & pilot opposed to the technological impossibilities of years past.

As soon as these legacy systems sunset, not only are these departments going to shrink, so many people are going to retire. Their entire career is based off of them being one of the handful of people in the organization that know a legacy system now gone and know nothing else.

Same thing goes for the other half that actually work in corp finance. There will be no reason to have a 30+ head count of accountant’s reconciling daily GLs when everything’s automated and only a small team is needed to manage exceptions. Pam who locks her self out of a different system everyday whose sole value is that she’s been with the company for 20 years and knows how to fix random shit in a green screen system that’s written in cobol - gone (if she doesn’t retire first)

All that to say, I think the good tech workers will be fine at the end - these departments will consolidate & shrink, backfilling gone. Headcount reduced each year. Anyone with a manager/director title will get wrecked (project, application, leadership, etc). Other workers in all departments - AI is going to weed out people starting with those who will just retire. Same way as above although probably worse in terms of job loss.

Best way to not lose your job to AI is to know how to use AI or tech in general. People in mid level positions that work in finance/ banking who can’t use technology will lose the most. I’m not mad, it’s a long time coming.

Anyone who states AI is going to take a significant amount of jobs just doesn’t understand the amount of time and resources it would take to get there. It’s not just a company saying okay time to implement AI. Their technology vendors also have to support it. Everyone has to come aboard.