Barclays cutting 5,000 jobs as it increases reliance on AI

[roger]

What is coming ( Quantum Computing + AI Singularity ), is mind-blowing . The storm is going to hit in just few years. People without mastery and resources of AI Tools will be equal to being just cockroaches. It's one in a 1000 year sort of revolution. Industrial revolution compared to this is nothing. Country with the ability , will rule . China and USA may just dominate every other country. And France like situation will be common across the world ( some artificial, some real) due to loss of earning ability , economic tsunami. I have read some recent research and I am mentally preparing how to survive it.

 

[PakFactor]

What are you doing to future-proof? I would say I am 20% worried.
Not super but kinda

My family has real estate and other investments that generate some passive income that allows us to survive, but due to current economic conditions, we are routing funds elsewhere to sustain those investments, and some we're in the red. At this moment in time, I do not know, as I'm still processing things after my depression episode.

Not surprised in the least.

Between that and robotics, many people are going to have to reinvent themselves and develop new skill sets.

I'm glad I retired when I did.

They will have to develop new skills, but only a subset of the population would be able to do so. My brother's one in programming and the other in accounting at a major 4 firm are in constant worry about their careers. The one in accounting is forced to use AI tools, and the latest update they've had is beyond what they expected it to do, and it's doing the grunt work at a fraction of the cost.

Those out of the workforce due to retirement are in a safe boat.

My main concern now is the next generation, myself, and others raising. At this point, I would rather have my sons sleeping in Kumon centers and learning.

 

[PK781]

My family has real estate and other investments that generate some passive income that allows us to survive, but due to current economic conditions, we are routing funds elsewhere to sustain those investments, and some we're in the red. At this moment in time, I do not know, as I'm still processing things after my depression episode.



They will have to develop new skills, but only a subset of the population would be able to do so. My brother's one in programming and the other in accounting at a major 4 firm are in constant worry about their careers. The one in accounting is forced to use AI tools, and the latest update they've had is beyond what they expected it to do, and it's doing the grunt work at a fraction of the cost.

Those out of the workforce due to retirement are in a safe boat.

My main concern now is the next generation, myself, and others raising. At this point, I would rather have my sons sleeping in Kumon centers and learning.

Don't lose the hope. God sustains the world and HIS PLANS are best.
Stay positive and take it 1 day at a time.......no need to worry about stuff u cant control. Why worry on that?
As long as u have basic necessities and a roof over your head, its ok.

 

[Sainthood 2.0]

My family has real estate and other investments that generate some passive income that allows us to survive, but due to current economic conditions, we are routing funds elsewhere to sustain those investments, and some we're in the red. At this moment in time, I do not know, as I'm still processing things after my depression episode.

DW - worst case, we're moving back to our countries. joking

They will have to develop new skills, but only a subset of the population would be able to do so. My brother's one in programming and the other in accounting at a major 4 firm are in constant worry about their careers. The one in accounting is forced to use AI tools, and the latest update they've had is beyond what they expected it to do, and it's doing the grunt work at a fraction of the cost.

Damn, now I am 40% worried
But we'll see; there's no point in getting too worked up
Helps no one; I feel like eventually we'll have to go into an advisory sorta role to survive
Like compliance + advisory, but there might be a lot less of us.
Plan is to just live conservatively, have your own property to fall back to, stay close together as a unit/ family and we'll figure it out
Chasing the dragon probably might do more damage but that's just my thinking

Those out of the workforce due to retirement are in a safe boat.

My main concern now is the next generation, myself, and others raising. At this point, I would rather have my sons sleeping in Kumon centers and learning.

Dont do that dude- actually, I feel like we need the opposite kinda future
Those who can talk and be confident have a personality + smarts

 

[Sainthood 2.0]

Don't lose the hope. God sustains the world and HIS PLANS are best.
Stay positive and take it 1 day at a time.......no need to worry about stuff u cant control. Why worry on that?
As long as u have basic necessities and a roof over your head, its ok.

This- cant get too worked up man
Sure we cant close our eyes but there's a fine line between closing your eyes and overthinking.

 

[Owaiz]

What is coming ( Quantum Computing + AI Singularity ), is mind-blowing . The storm is going to hit in just few years. People without mastery and resources of AI Tools will be equal to being just cockroaches. It's one in a 1000 year sort of revolution. Industrial revolution compared to this is nothing. Country with the ability , will rule . China and USA may just dominate every other country. And France like situation will be common across the world ( some artificial, some real) due to loss of earning ability , economic tsunami. I have read some recent research and I am mentally preparing how to survive it.

Even jobs using AI tools are being automated away by AI agents. Outside of core AI software development, chips development and fabrication, deployment and maintenance of AI infrastructure and compliance and regulatory roles, there will be few salaried "AI" jobs. However, availability of cheap AI agents will make entrepreneurship far more accessible and democratic.

The age of the salaryman is certainly ending, if it hasn't already.

 

[AZ_HighCountry]

My family has real estate and other investments that generate some passive income that allows us to survive, but due to current economic conditions, we are routing funds elsewhere to sustain those investments, and some we're in the red. At this moment in time, I do not know, as I'm still processing things after my depression episode.



They will have to develop new skills, but only a subset of the population would be able to do so. My brother's one in programming and the other in accounting at a major 4 firm are in constant worry about their careers. The one in accounting is forced to use AI tools, and the latest update they've had is beyond what they expected it to do, and it's doing the grunt work at a fraction of the cost.

Those out of the workforce due to retirement are in a safe boat.

My main concern now is the next generation, myself, and others raising. At this point, I would rather have my sons sleeping in Kumon centers and learning.

Mrs. AZ is also an accountant. The firm she works for was acquired by a larger firm with a global presence. You can appreciate my not going into details for a certain reason.

Anyway, they recently pushed out some AI tools. Guess what? They don't work. Absolutely not ready for prime time and the support desk, which I won't say where is located, if quite frankly, useless. I am stunned with a few things I see.

She has 4 years until she retires.

 

[AViet]

India and phillipines who rely on speaking english as a job skill will be the first to be torched by AI revolution

Kenya and some other African countries as well. They consider English command as a "skill" and now have to pay for it, because of AI as well as the need of using English going down.

In another move, Vietnamese Ministry of Education is planned to remove foreign languages (mainly English) as a subject for entrance test into high school. Only math and literature remain.

Dự kiến kỳ thi lớp 10 chỉ có Văn và Toán

Kỳ thi vào lớp 10 sẽ chỉ có hai môn Văn và Toán, bỏ môn thứ ba, nhưng nới quy định về điểm cộng khuyến khích, theo dự kiến của Bộ Giáo dục và Đào tạo.

vnexpress.net

 

[Viet]

Someone develop a virus for AI

Probably the endgame: humans against robots
AI will kill most of the jobs that exist today.

 

[Yellow is Okay]

Kenya and some other African countries as well. They consider English command as a "skill" and now have to pay for it, because of AI as well as the need of using English going down.

In another move, Vietnamese Ministry of Education is planned to remove foreign languages (mainly English) as a subject for entrance test into high school. Only math and literature remain.

Dự kiến kỳ thi lớp 10 chỉ có Văn và Toán

Kỳ thi vào lớp 10 sẽ chỉ có hai môn Văn và Toán, bỏ môn thứ ba, nhưng nới quy định về điểm cộng khuyến khích, theo dự kiến của Bộ Giáo dục và Đào tạo.

vnexpress.net

What is the point of removing English from the high school entrance exam?

Is it to reduce the social perception and acceptance of English. Since when can a single exam change that? Japanese students have lower English proficiency than Vietnamese students, by the way.

Is it supposed to reduce exam and study pressure? It won't. Students will just shift all of that pressure onto Math and Literature instead.

Is it supposed to make English less important as a subject? That doesn't add up either, since English still dominates the curriculum unless you deliberately choose another language, and even then English remains the default. And do you really think kids applying to top and gifted schools won't keep learning English on the side anyway? Of course, they will. As for those who never cared about English in the first place, nothing changes for them. With or without it on the exam, they were never going to learn it anyway.

Lots of Vietnamese children in cities have been going to English centers since elementary school, actually practicing writing, listening and speaking. They are not just studying to take those national entrance exams.

 

[RescueRanger]

Barclays cutting 5,000 jobs as it increases reliance on AI​

Barclays cutting 5,000 jobs as it increases reliance on AI

The bank says it is using more AI leading to a 5% reduction in its workforce.

www.bbc.co.uk

And, so it begins. India will be affected by Ai, in a bad way.

Banking sector was always the first to go down this route, a relative of mine was VP Admin for ABN Ambro in Pakistan back in the day and he used to say the banking sector is fast approaching the point where there will be massive lay offs on a global scale, guess he was right after all.

 

[RescueRanger]

Probably the endgame: humans against robots
AI will kill most of the jobs that exist today.

It’s not all doom, not yet by any stretch but it’s getting to a point where “Super intelligence” as people are calling it these days is the new frontier and corporations don’t really care about human-capital.

For large MNCs and corpos you are just a number on the payroll, if Claude can do the work of 10 people overseas and still save money and reduce overheads, it stands to reason what decision makers at c-suite level will make.

Outsourcing BPOs for contact centres and admin/clerics tasks (like medical transcription services etc.) was already on its knees anyway, the next axe to fall will be developers and coders.

Print media was the first to quietly get axed without much notice or protest, other industries and sectors will follow suit.

My niece is a freelance programmer based in Pakistan and works for a few American companies, she has already said how work is slowly drying up, with usually 200+ hour assignments now being reduced to a new type of agreement where clients no longer issue contracts instead offer “terms and conditions” based assignments of 20/30 hours of guaranteed work and the rest is ‘ad-hoc’.

She’s not complaining because she was getting paid big bucks in USD and earning several times over what her peers were who worked for local businesses, but… all of this will impact the younger workforce much harder than us old farts.

The boomer generation that understood the importance of saving and being thrifty will survive, the newer generation (and yuppie Pakistanis are not immune to this shock) who live in a world of excess and have embraced consumerism where credit purchases are the norm, expensive monthly beauty treatments, credit card purchases and cars on high rates of interest finance will struggle.

There is an entire generation of people who have never saved cash for their first home and are happy living paycheque to paycheque… (makes you wonder).

At times like these I’m glad I have my farm to fall back on.

 

[Viet]

It’s not all doom, not yet by any stretch but it’s getting to a point where “Super intelligence” as people are calling it these days is the new frontier and corporations don’t really care about human-capital.

For large MNCs and corpos you are just a number on the payroll, if Claude can do the work of 10 people overseas and still save money and reduce overheads, it stands to reason what decision makers at c-suite level will make.

Outsourcing BPOs for contact centres and admin/clerics tasks (like medical transcription services etc.) was already on its knees anyway, the next axe to fall will be developers and coders.

Print media was the first to quietly get axed without much notice or protest, other industries and sectors will follow suit.

My niece is a freelance programmer based in Pakistan and works for a few American companies, she has already said how work is slowly drying up, with usually 200+ hour assignments now being reduced to a new type of agreement where clients no longer issue contracts instead offer “terms and conditions” based assignments of 20/30 hours of guaranteed work and the rest is ‘ad-hoc’.

She’s not complaining because she was getting paid big bucks in USD and earning several times over what her peers were who worked for local businesses, but… all of this will impact the younger workforce much harder than us old farts.

The boomer generation that understood the importance of saving and being thrifty will survive, the newer generation (and yuppie Pakistanis are not immune to this shock) who live in a world of excess and have embraced consumerism where credit purchases are the norm, expensive monthly beauty treatments, credit card purchases and cars on high rates of interest finance will struggle.

There is an entire generation of people who have never saved cash for their first home and are happy living paycheque to paycheque… (makes you wonder).

At times like these I’m glad I have my farm to fall back on.

Basic jobs to professionals will disappear, maybe not tomorrow but in few years. Give me one example where AI can’t make? There is none. Superintelligent whatever people call it is almost there. New generation of Gpu can make 100 trillion calculations a second.
Just one example developing a new car took years in the past, now just months.

 

[I*R*A]

If you have two healthy arms, two legs, eyesight, hearing capability and a working brain .. you should be grateful. As long as humans can grow crops and hunt, we won't starve. Driving luxury cars, riding super bikes and eating trash food in shiny restaurants was anyways artificial and against our nature. Human body is designed for hard work, sitting with your bum on chair for 10 hours a day and staring at a screen was not natural in any case.

AI cannot have the orgasm that we do, so chill. If it is replacing anything, it is replacing the modern day slavery.

 

[Yellow is Okay]

If you have two healthy arms, two legs, eyesight, hearing capability and a working brain .. you should be grateful. As long as humans can grow crops and hunt, we won't starve. Driving luxury cars, riding super bikes and eating trash food in shiny restaurants was anyways artificial and against our nature. Human body is designed for hard work, sitting with your bum on chair for 10 hours a day and staring at a screen was not natural in any case.

AI cannot have the orgasm that we do, so chill. If it is replacing anything, it is replacing the modern day slavery.

I can see AI taking over repetitive factory jobs like sorting and assembly, but honestly, industrial robots already do that just fine without any AI. And when it comes to healthcare or construction though, I don't see AI replacing workers there anytime soon. Humanoid robots are nowhere near good enough for that yet.