Vast majority of people are facing economic disaster? Have no fear though: rich people won’t have to be giving up the silver spoons in their mouths.
Vast majority of people are facing economic disaster? Have no fear though: rich people won’t have to be giving up the silver spoons in their mouths.
Has anyone asked these CEOs: “Okay, let’s follow this to its conclusion: you’re laying off thousands of jobs citing AI, and other CEOs are doing the same. There are hundreds of thousands of unemployed people with a gap of available jobs. How do you expect them to survive?”
I know the answer they’re thinking is “go work the fields from all the people we deported”, but I’d love to at least seem them dance or flounder.
How do they expect to survive themselves? If common people don’t have money any more who needs the bank?
A quick search showed that JP Morgan Chase make 42% of its 2025 profit from Consumer Banking. What I couldn’t find is how much of that Consumer Banking is “common people”.
I’ve been out in charge of ensuring we use the only AI product that is potentially capable of removing humans from their jobs so that we can prove that it doesn’t perform even at the same level of the average person. We know it doesn’t but proving it is harder since the team stopped using it as a tool a month ago. To use the tool takes learning a new job workflow for a proton of their function. It’s a pain in the ass and takes longer to use the tool than not (which is why they stopped using it). So, not all leadership is stupid and some do listen. Why burn a ton of money on this tool if it’s not capable of a better ROI?