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Goldman Sachs proves AI’s potential to create jobs

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The rise of artificial intelligence has many people worrying about their job security. With some employees already losing their jobs to machines, and HR professionals expecting AI to have a serious impact on their workforce soon, it is perhaps not an unfounded fear.

On the other hand, although technology has come a long way, for the time being robots still cannot design, build, and programme themselves. In practice, this means that the implementation of AI could in fact create jobs, as suggested earlier this year by IBM CEO Ginni Rometty during a World Economic Forum panel in Davos, Switzerland.

Goldman Sachs seems to be proving that there’s some truth behind that theory, at least in the short term. The company is currently looking to hire a software developer to help create a “Robo Advisor” – an automated platform that will serve some of the compnay’s most wealthy clients.

“This platform helps realise a client’s goals and objectives, develops and implements an integrated wealth management plan and delivers first-class client service,” the job ad reads.

Of course the creation of one new job to help build a platform that will then independently assist a large number of clients, thereby potentially making several other employees redundant, isn’t much. Undoubtedly, the development and implementation of AI will create some jobs, but whether it will create more than it will kill remains to be seen.

Still, if at all possible, for those fearing they could soon be replaced by a robot the best course of action might be to become the person who builds them. After all, if you can’t beat them, join them.

ALSO READ: Could a robot do your job? Aviva will retrain you

Photo / iStock



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