A study by Boston Consulting Group (BCG) found that 23 percent of the total 9.93 million jobs in China’s banking, insurance and securities sectors will be affected by AI by 2027, with entry-level staff engaged in repetitious daily operations bearing the brunt of any cuts.
“Many jobs, particularly those involving mechanical, repetitious operations, will gradually be replaced by AI,” David He, a BCG partner, said in a statement. “Consequently, some positions will be cancelled, but other positions will see improvements in efficiency, and new jobs will be created.”
The study is based on interviews with highly skilled professionals in the finance and AI industries, and the use of analytical tools, the global consultancy said.
AI will also improve the efficiency for the remaining 7.7 million finance industry employees by 38 percent by 2027.
BCG has a collection of articles analyzing the business strategy for AI.
There is a gap between expectations and actions in regards to AI.
Wang is a prolific business-oriented writer of emerging and disruptive technologies. He is known for insightful articles that combine business and technical analysis that catches the attention of the general public and is also useful for those in the industries. He is the sole author and writer of nextbigfuture.com
, the top online science blog. He is also involved in angel investing and raising funds for breakthrough technology startup companies.
He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
He fundraises for various high impact technology companies and has worked in computer technology, insurance, healthcare and with corporate finance.
He has substantial familiarity with a broad range of breakthrough technologies like age reversal and antiaging, quantum computers, artificial intelligence, ocean tech, agtech, nuclear fission, advanced nuclear fission, space propulsion, satellites, imaging, molecular nanotechnology, biotechnology, medicine, blockchain, crypto and many other areas.