Jowi Morales is a tech enthusiast with years of experience working in the industry. He\u2019s been writing with several tech publications since 2021, where he\u2019s been interested in tech hardware and consumer electronics. ","collapsible":{"enabled":true,"maxHeight":250,"readMoreText":"Read more","readLessText":"Read less"}}), "https://slice.vanilla.futurecdn.net/13-4-23/js/authorBio.js"); } else { console.error('%c FTE ','background: #9306F9; color: #ffffff','no lazy slice hydration function available'); } Jowi Morales Social Links Navigation Contributing Writer Jowi Morales is a tech enthusiast with years of experience working in the industry. He’s been writing with several tech publications since 2021, where he’s been interested in tech hardware and consumer electronics.
King_V lower-value human capital Ah, what a charming phrase, that's sure to appeal to a broad audience. Reply
ejolson While it's possible the bank has too many workers, such a thing could happen only as the result of poor management. The other possibility is there are not too many workers but only poor management. My observation is the labour market is quite competitive–especially in India–so a low wage doesn't mean low value but rather low wages imply high value per dollar. In contrast to human labour, there are only four major providers of AI services. While AI prices currently look competitive, tokens will be priced at cartel-like levels in the near future. Said another way, negotiating fair rates with one of the four AI companies will be even more difficult than with the most powerful labour unions. Reply
thesyndrome As disgusting as this sounds, the real key to the article is hidden in the main body of text: It’s noted that the most affected sites would be the institution’s back offices, located in Chennai, India; Bengaluru, India; Kuala Lumpur, Malaysia; and Warsaw, Poland So the company (which is worth pointing out, is a BANK, AKA the people who should be the best with money) already used cheaper foreign labour for services, and is now cutting them out to replace with AI. As someone who has dealt with foreign correspondence for national companies, I don't see this as a huge loss. Now I will likely end up trying to work around an AI that doesn't know what it's talking about, compared to before, where I would end up trying to work around a HUMAN that doesn't know what they're talking about Reply
Arkitekt78 This is the very definition of unethical use of AI. Reply
Key considerations
- Investor positioning can change fast
- Volatility remains possible near catalysts
- Macro rates and liquidity can dominate flows
Reference reading
- https://www.tomshardware.com/tech-industry/SPONSORED_LINK_URL
- https://www.tomshardware.com/tech-industry/standard-chartered-plans-to-cut-7-000-jobs-in-ai-push-lender-wants-to-replace-lower-value-human-capital-and-focus-on-automation#main
- https://www.tomshardware.com/subscription
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Informational only. No financial advice. Do your own research.