The idea of AI employees is pure fantasy

More flights of fancy. More dreams of things never to be. More wastes of money and time. More lies. As long ad there is global custody, treasury, foreign income, FX and foreign deposits, BNY will never self automate or be a robotic style firm. Put it this way, for all the clients and SLAs they have for inbounding instructions to us in prior agreed shapes, forms and content , it needs lots of human beings. It will not end. We saw all the corporate goals, edicts, Pods for immediate addressing of Faxes for example to eliminate them by 2021. Yet here we are. All the nonsense about redoing GSP as web based portal ,,getting rid of FIS,,,,getting rid of IAS…getting off the mainframe,,, having one accounting platform with eagle only. And so much more. This is yet another lame brain call to lunacy arms. It would not surprise me one bit. Don’t care anymore. I am just here for the check. I do not believe in snake oil medicine show one bit.

Perfectly said, @b3+1jvsvb699.

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@ej
On the surface what you are saying is right. And in 100% defined and repetititive functions yes, AI will take over. But, the OP’s post also is clear about trade capture, overdue foreign income, non standard forms and shapes of inbound trades. As long as that happens, - and it does here daily and a lot- AI as it sits today cannot handle that. That’s not to say in the distant future, AI could not have some API with other companies and clients to help correct errors and missing data instantly, but that is waaaaaaay off. If SWIFT has drops and inbound data errors - and it does- AI cannot auto fix that. You need cancel and corrects and acks from the client by policy and sometimes by law. And after that, we still have too many accounting systems and they get errors and timing issues that AI just cannot magically handle. This place is trying to run, when it can barely walk without stumbling.

As someone in processing, AI can be and probably already is fully capable of replacing me. As long as there is a standard template in use for our clients, the bank can wipe half of us out and keep the rest as verifiers which they have already confirmed this to us during a town hall before. Once they’ve tweaked the program to become flawless, there won’t be a need for us to be there at all. All this group is is a few hundred thousand out of shareholder pockets and we will be the first they terminate.

Unfortunately the AI Employee makes more money than me and gets better benefits!

Thread regarding Bank of New York Mellon Corp. layoffs

The idea of AI employees is pure fantasy

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