@19h What does your team do? Portfolio servicing, onboarding, spreading financial statements?
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I’ve had an exec justify half my team being laid off with us having AI now and not needing as many people, but our team actually isn’t even allowed to use AI for the majority of our work (and even if we were, it’s nowhere close to making up for the loss of actual humans on the team.
The proof is in the pudding. Many groups have a 3-1 offshore to FTE headcount. If you hear an executive extolling the virtues of AI, they're distracting you with that bauble while they're tapping cheap labor.
Check out https://www.usemultiplier.com/country-news/h1b-crackdown-investment-bank-hiring-india
We already have a large offshore workforce. AI is the new threat that we need to watch.
USB is so behind on AI, each business line holds “prompt-a-thons” and the winners get gift cards. 😂😂😂
U.S. Bank is behind regarding technology , AI will never be a threat to employees losing jobs. The bank waste so much money duplicating efforts a great example is in CRT they review a case to death over and over a case can be reviewed 3 times it’s completely senseless, just a way to hire more and more people without any need for them it’s so obnoxious and all due to mismanagement. The bank will never afford to catch up with other big banks using AI. They will just continue to fall behind because they spend their money on d-mb things that a bunch of wanna be something big come up with it’s actually laughable,
One form of AI (Artificial Intelligence) or another (Additional Indians). :)
Offshore is the biggest issue. We don’t really have the tech to do AI. But we offshore all we can.
Whatever AI can’t do well (yet), we’ll look at offshore options in order to save costs. It’s coming.