Harsh words, harsher realities

“You’re out of time. If you can’t already write a piece of code to find the longest palindrome in a string, you probably won’t be able to do so before the automation revolution deals a body blow to your banking job sometime around 2022. Cathy Bessant, the chief technology and operations officer at Bank of America, said as much in conversation with Bloomberg last month. If you’re a bank employee who’s technologically illiterate, Bessant said it’s no good rushing to do a few coding courses on the side. You’re too late: things are moving too fast. “The kind of skills that we’ll need have to be taught beginning at a much earlier age,” said Bessant. “Whether you can train the same worker at the same time you’re changing their job remains to be seen.” – Can’t Code? The only other thing that will save your job

Immediate thoughts: 

Does this include executives and leadership?

Are they doing any work to train their best and brightest in these skills?

Where will these bankers go now?

Does it even matter since this is the new reality:

“Huy Nguyen Trieu, the former head of macro structuring at Citi, told us he knows of a team of just four algorithmic traders who now manage 70% of the trades that were done by 140 people in 2010″

Luckily there’s a sliver of hope for bankers in form of soft skills:

“Not for nothing has Goldman Sachs president David Solomon been extolling the virtues of a well-rounded education that incorporates public speaking and communication. Just as banks need geeks, they’ll also need exceptionally charismatic individuals to act as the face of the new automated reality.”

Maybe I should launch a new workshop as part of my power skills series: How to Charm the Pants Off of Your Audience and Save Your Job

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