The future of the finance industry

The future of the finance industry

KloverHarris Limited has always been an advocator for preparation of employees for the 4th industrial revolution i.e. the future of the workplace. And this article should at its end enlighten you on why you need to prepare for the robotic invasion.

Despite the bleak future that many are afraid will lead to the advent of robots taking over. We at KloverHarris believe that as much as many job roles will be automated. This will only lead to the provision of new jobs for the human factor.

It is therefore expedient that as an employee, you strategically position yourself by learning and developing a skill set that will help you succeed in these times

A snick peek into the current jobs requiring the newest candidates in finance is job seekers with expertise in artificial intelligence and machine learning and data science. Being a data scientist these days I quite the “Hot” role now with financial institutions.

As much as machine learning presents organizations with the ability to augment jobs and enhance the performance of organizations. It also presents a risk and with these risks comes a need for the job description.

Theodoros Evgeniou, a professor of decision sciences and technology management at Insead in Fontainebleau, France. As machines make more decisions in banking, he says, ethical and legal concerns will be raised that need to be addressed at the board level.

“Let’s say you’re a bank and you’re giving credit based on credit scoring and machine learning, and your models are discriminating certain populations of people,” Evgeniou says. “If you’re then sued for being discriminatory, who is liable for this?

If [the models] discriminate, you are liable.”

So contrary to the popular belief that the coming of artificial intelligence is only going to dispose of lots of staff (Which it would), it will also create numerous employment opportunities

 

 



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