I understand people who are extremely concerned by it, but I think you need a theory for it which successfully predicts bank teller employment trends over the last 50 years prior to justifying the number of column inches it gets.
-
-
Show this thread
-
"Haha Patrick you're not going to tell me bank teller employment is up since we made a machine literally called Automated Teller Machine are you." Bessen, 2015:pic.twitter.com/wf3eZfMiqd
Show this thread -
"Wait why did that happen?" Short version: the ATM makes each bank branch need less tellers to operate at a desired level of service, but the growth of the economy (and the tech-driven decline in cost of bank branch OpEx) caused branch count to outgrow decline in tellers/branch.
Show this thread
End of conversation
New conversation -
-
-
@dsmarkovits has argued that there's been a tech and finance driven separation of professions into a skilled tier (management and engineering at HQ) and a deskilled tier (bank retail employee who enters stuff into computer, Uber driver who follows GPS). -
Contrast with former profession of local loan officer who used to have make decision-making authority. The deskilled tier isn't unemployment, but wages and social mobility are bad.
@DSMarkovits discussed this on the Ezra Klein show recently:https://podcasts.apple.com/us/podcast/when-meritocracy-wins-everybody-loses/id1081584611?i=1000450823662 … - 1 more reply
New conversation -
-
-
"Robots will take all the jobs" is a bit like calling climate change global warming. We're not worried that robots will take ALL the jobs, they obvious won't. The concern is that /a lot of/ people will lose their jobs and many cannot afford or will be unwilling to retrain.
-
This is a pretty good resource on the topic:http://theconversation.com/what-the-industrial-revolution-really-tells-us-about-the-future-of-automation-and-work-82051 …
End of conversation
New conversation -
-
-
The root cause of the fear is mostly though that people see robots replacing their specific jobs, so it would require people to switch profession or change. The looming change is what causes uncertainty and stress.
-
Boy I don’t know which economic class could profit from the working classes feeling stressed and desperate
- 1 more reply
New conversation -
-
-
I would disagree, agricultural labourers, computers (before the machine took the word), typists, various factory / mill workers - like where we get the word luddite etc. And I think in consumer banking the US and Japan lag Europe. Physical banks are declining here:pic.twitter.com/uoMf0AgP0K
-
It's possible there are more tellers, that are virtual, but a quick search didn't get that number :) It would surprise me if the number was increasing per bank customer
- 5 more replies
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.