Job Cuts Driven by A.I. Are Rising on Wall Street

kept by eddie may 23

Wall Street banks are accelerating job cuts as AI automates trading, analysis, and back-office tasks, with executives framing the shift as opening new frontiers.

AI Bots Auditioning for Wall Street Trading Are Mostly Losing
Most AI systems in trading contests lose money, overtrade, and generate inconsistent decisions even under identical instructions.
also on Wall Street, #finance, #automation
Wall St. Wants Another Half-Trillion Dollars for the A.I. Boom
Six major investment firms are seeking $500 billion in funding to finance AI computing infrastructure for Nvidia customers amid the ongoing artificial intelligence boom.
also on Wall Street, #finance, #ai