Saturday, 25 May 2024 11:31

"Stayin' Alive" On Wall Street, In the Age of AI

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Although Wall Street Analysts, Stockbrokers, and Traders already use sophisticated computer programming to help them make what is in some cases, dizzyingly vast sums of money; rapidly developing Artificial Intelligence (AI) tools could soon help them make even more.

On the other hand; AI could also completely replace a lot of those jobs, leaving the people doing them today, out of work and wondering how to get back in the game.

That in fact, is a scenario that is going to play out for billions of workers in all sorts of different fields over the next five to ten years, according to AI Developer, Professor, and Author, David Shrier. I talked to him last week about his new book “Welcome to AI: A Human Guide To Artificial Intelligence”, in which he predicts that within five to ten years; unemployment in the US and other countries could hit 30 to 50 percent. (To listen to that interview, click here).

Obviously; that is not the kind of blow that the US, or any other economy could absorb without either buckling, or at least being severely crippled for time, without some sort of serious intervention. Shrier talked about the need for government to step in with a safety net solution, like Universal Basic Income (UBI) , and large-scale programs to retrain employees so they can work with, and not try to compete against, AI.

With that in mind; I approached Kent State University Finance Professor, David Pelleg, about how they are adapting to this new technology, so that when their students  graduate; they will have the kind of AI-related skills they need to grow and prosper, despite major job disruptions that lie ahead.

 

DAVID PELLEG HEADSHOT 2

David Pelleg, Finance Professor, Kent State University

Read 1142 times Last modified on Saturday, 25 May 2024 13:14