Later On

A blog written for those whose interests more or less match mine.

Outlook for college grads

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Very interesting column by Danielle Paquette in the Washington Post on the impact of automation and AI on highly compensated jobs (banking, finance, software engineering). The column opens with:

The job title “Wall Street trader” once evoked sleek suits, martini-soaked lunches and chaotic offices  — a gateway to prosperity at a relatively young age. But earlier this year, Marty Chavez, the chief financial officer of Goldman Sachs, revealed that some of the investment bank’s well-paid humans were being replaced by unpaid robots.

Over the last seventeen years, the number of stock traders at the firm has shrunk from 600 to two, he told  a Harvard computer science symposium in January. . .

And it concludes with:

. . .“Investment banking is next on the chopping block,” Webb said. And engineering isn’t off the hook, either. “The next iteration of artificial intelligence,” she said, “is artificial intelligence creating software for itself.”

In one Google Brain experiment, for example, software became better at teaching itself tasks — such as navigating a maze, for example — than the engineers who were charged with making it smarter.

“That obviates the need,” she said, “for a human engineer.”

Written by LeisureGuy

16 May 2017 at 8:15 pm

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