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That would be fantastic, you know, if the banks didn't already rule the world. Do you think that banks are going to let software replace them? I have a hard t
by andyleclair 17y ago
That would be fantastic, you know, if the banks didn't already rule the world. Do you think that banks are going to let software replace them? I have a hard time believing that this would come to fruition with anything less thank a full on revolution.
That said, I would wholeheartedly support such a revolution.
- TriinT 17y agoIn a way, computers are already replacing a lot of people at investment banks. Mostly brokers and traders, for sure. Even David E. Shaw himself once wrote that a lot of stuff in finance that is currently done by humans should be done by computers. However, if you take a look at actual banking, like commercial banking and corporate finance, the sector remains rather low-tech. And there's a reason for it: there are no new ideas in banking. It's all about packaging and selling old ideas. That will never be replaced by computers, unfortunately.