Newspapers are filled with articles talking about computers will take over the world and basically all jobs becoming redundant within our life time etc etc etc.
How do you guys see the jobs in finance? Will they be safe from “computers” and how much of the stuff can be automated?
Well, quant funds have done an absolutely horrible job managing money so I’d say fundamental research will still be around.
People have always criticized about how financial innovation has caused market crisis, I completely disagree on that notion. Machine learning is fine and all, but it can’t innovate; so I say keep your skill sharpe and build the next CDO.
I think AI and technology in general will wipe out a huge portion of Back and Middle Office jobs, as well as many higher end jobs. Machines aren’t infallible but neither are humans. Some of the jobs can be done better and more efficiently by an AI.
This has been a thing that’s been keeping me up at night. Quant analyst jobs are paying 150k with less than 5 years of experience and CFAs are making less than that at 5+ years. Further, one quant can replace a team of fundamental researchers (not saying anything about research quality) I’m thinking that maybe the CFAs of the world (who are one of the few who understand what the quants are doing, but don’t program for a living) are going to be the client-facing side of the industry. Never found their social skills to be too on point.
Thoughts?
What makes you think that programing-skill (QUANT) can’t be replaced by machine few years down the road? I agree with you that CFA charterholder should be more on the client-facing side of the business (I am) because CFA charterholder are trained to be portfolio managers (not programmers) who helps client (human or non-human) to construct and manage portfolios. Human skill, interaction can NEVER be replaced by machine, be closer to clients!!
Thanks for the guiding. 
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