Thread regarding Wells Fargo & Co. layoffs

How to stay relevant in banking in an AI world.

Just read this article: https://thefinancialbrand.com/news/data-analytics-banking/artificial-intelligence-banking/ai-to-shake-up-bank-employee-ranks-but-now-how-you-think-178007/
While AI is changing the landscape, human expertise will still be crucial. By demonstrating your willingness to learn, adapt, and contribute strategically, you can position yourself as valuable in the new AI-powered banking environment.
The article offers some insights you can leverage to stay relevant despite the layoffs:

Proactive Skill Development
  1. AI Literacy: The article highlights the growing importance of AI in banking. Taking the initiative to learn about AI basics and its applications in finance will showcase your adaptability and future-proofing efforts. Online courses, certifications, or even attending industry talks could be starting points.
  2. Focus on Your Strengths: Identify the tasks or areas where your expertise is valuable and difficult to replace with AI. Sharpen those skills and consider how they can complement AI, not be replaced by it.

> Communication and Initiative

  1. Express Interest in AI Training: The article mentions 57% of workers want AI training. Voice your interest to your manager or HR.
  2. Identify AI Opportunities: Think about where AI could be implemented in your department or the bank as a whole. Propose ideas on how AI can be used responsibly and ethically to improve processes or customer service. This demonstrates initiative and forward thinking.
Network and Stay Informed
  1. Connect with Innovation Teams: If your bank has an innovation team or task force exploring AI, try to connect with them. Learn about their projects and see if there are ways you can contribute, even peripherally.
  2. Stay Updated on Industry Trends: Follow industry publications or attend conferences (online or in-person) to keep yourself updated on the evolving role of AI in banking.

If you are not laid off you should prepare for life at Wells after this offshoring experiment. If you are laid off all of this applies to getting a job. AI is or will be everywhere. If you are retired... well no advice

by Anonymous
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Post ID: @OP+1sFBEeir
Comment! It's anonymous!

5 replies (most recent on top)

@1nox+1sFBEeir, a good post.

by Anonymous
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Post ID: @2odq+1sFBEeir

@jxd Every occupation, especially white-collar occupations, will rely on AI - primarily generative AI. So if you hate banking google "how to stay relevant in in an AI world" Fill in the with a field you may be looking at (for example "supply chain").
@mgj Yes the people in India will have enormous AI knowledge. Kali's dance is their game and they will scalp you for her belt if given a chance. Last year, Transamerica and TCS ended a 2 bill contract that was supposed to last till 2028. There are a lot more of these.
@1bxj Getting everyone cloud certified, especially on M$ft cloud was interesting. Most AI generation will revolve around the cloud (which provides the infrastructure for the centralization of computing power). Getting everyone cloud certified is putting the cart before the horse. Understanding service design, SOA, TDD, DDD is what this bank needed. Like the curriculum of M. Rider (before he flamed out...)

by Anonymous
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Post ID: @1nox+1sFBEeir

It seems like knowledge of AI would be beneficial both professionally and personally, yet Tech has focused on requiring everyone to get Cloud certified. Go figure.

by Anonymous
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Post ID: @1bxj+1sFBEeir

The only way to stay relevant is to be willing to work for less than an employee in India with AI skills. That's the issue.

by Anonymous
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Post ID: @mgj+1sFBEeir

Working here has made me hate banking and has opened my eyes to it's inherent corruption

by Anonymous
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Post ID: @jxd+1sFBEeir

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