A study by the Oxford Martin School had projected that automation will erase 47% of all jobs in developed nations over the next 25 years.
At the time, I promised to continue documenting the rise of robots and report any notable developments in the space.
And I’m sorry to say that the timeline has been severely reduced for some Americans.
A new study by McKinsey & Co. indicates that — in a best-case scenario — one-third of the workforce in the U.S. will be replaced by AI after 2030.
Manufacturing jobs aren’t the only ones at risk, either.
Many careers that involve collecting and processing data will be automated by that time as well.
And robots are targeting one data-driven sector in particular: finance.
In fact, the timeline is even shorter…
Out of 300,000 jobs in asset management worldwide, 90,000 will be controlled by AI by 2025.
If computing power and data generation keep growing at the current rate… machine learning could be involved in 99% of investment management in 25 years. — Man Group CEO Luke Ellis
Would you trust your money with a robot?
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