If You're Feeling Nice And Secure In Your Wall Street Gig, Just Remember Most Of You Are Going To Be Replaced By Machines One Day Soon: McKinsey
Consultants, of course, will inherit the earth.
Wall Street’s future will be dominated by firms that embrace technology from electronic fixed-income trading to blockchain and predictive algorithms, reducing the need for people in the front and back office, according to McKinsey & Co. Global investment banks that successfully adopt automated trading and other measures can increase profit by 30 percent, the consulting firm said in a report released Wednesday. [Bloomberg]
