On Tuesday, BlackRock announced it would overhaul its business, effectively cutting jobs, dropping fees and relying more on computers to pick stocks.
Robots and artificial intelligence are going to pose a major threat to jobs in the coming years, Martin Ford, author of "Rise of the Robots: Technology & the Jobless Future," told CNBC on Wednesday.
On Tuesday, BlackRock , the world's biggest money manager, announced it would overhaul its actively managed equities business, effectively cutting jobs, dropping fees and relying more on computers, or robots, to make stock picks. Maybe it's becoming too difficult for humans to beat the market, after all.
Particularly, it will be on Wall Street and in finance sectors where the impact of technology hits hardest, he said, giving examples of financial analysts, business journalists and accountants who are at risk.
HITC
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.