"Whether the displacement of human labour by automation is, as is often depicted, another nail in the manual coffin seems a moot assertion. But what cannot be denied is its increasing role across the financial services (FS) sector, with some players even seeing automated environments as a panacea."
Financier Worldwide April 2017
Only 20% companies plan to shed labour which indicates the goal is to raise productivity, revenue and re-educate & improve skills of employees. In fact could be the start of eliminating meaningless jobs.
The Infosys survey further reveals that: (i) 76 percent of senior decision-makers believe AI is fundamental to the success of their company’s strategy; (ii) by 2020, those currently or planning to use AI technology anticipate a 39 percent boost to their company’s revenue, on average; and (iii) eight in 10 companies that have replaced, or plan to replace, roles with technology will retrain or redeploy those who are displaced.