While other financial institutions are still experimenting with machines and artificial intelligence, Swiss bank Credit Suisse just moved ahead of the curve with the deployment of 20 robots within the bank.
In a speech at the Milken Institute Global Conference in Beverly Hills, California, the bank's global markets chief executive, Brian Chin, said the machines were designed to help call center employees more easily handle compliance questions by reducing the number of calls by as much as 50 percent. "You ask it questions and it spits out the appropriate regulation, rather than going to a manual or a website. It's been really good for simple questions," Chin explained, likening the technology to Amazon.com's Alexa voice system.
While Chin claims the robots help employees, he also said that Credit Suisse has slashed some middle office positions thanks to this technology, although it hired more programmers instead. This raises the following question: do all of us have to become programmers or computer scientists to maintain our jobs? Because so far, things are shaping out like there's no place for lower skilled workers in a future controlled by machines. In the end, will robots truly help people?
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