Here Come the Robo-Bankers

Deutsche Bank says that it could replace half of its 97,000 employees with robots within the next 20 years. Setting aside the obvious economic implications –€“ if robots replace us, how are we supposed to earn a living? — this makes one wonder about the new meaning of robo-signings, the practice by many of the big banks during the housing melt down used to conduct illegal foreclosures. Meanwhile, as artificial intelligence becomes more of a thing, one wonders, will our new robotic banker overlords feel guilt?

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5 thoughts on “Here Come the Robo-Bankers

  1. Yeah, this is big stuff. AI, robots, internet of things, 100% surveillance 24/7.

    An absolutely powerful totalitarian government must controls these things.

    If that singularity-government is nice, it’s Utopia. If it’s not, it’s Terminator.

    • I’m for Utopia. Let’s all sit around in togas, drink wine, write poetry, and play the lute. UBI’s for all my friends!

      Here’s looking at you, Apple/Alphabet/Facebook/Musk, what’s it to be?

      • D’oh! Left out Amazon.

        Should read: “Apple/Alphabet/Amazon/Facebook/Musk”

        Also, “controls” above in first comment, should read, “control”.

        You’ve no delete or edit comment feature, Ted. No way to correct an error.

        Probably good reasons for that though, I guess.

        Thanks.

  2. Money value is based on impersonal violence, the monopoly of state violence by means of law.

    Impersonal violence, the violence against someone who is unknown to its perpetrator, is pervasive in this society whether it’s performed by a mass murderer like Stephen Paddock, financial institutions, or state institutions.

    Mass man is mass murder.

    FDR gave the wealthy of his day the choice of either owning all of nothing, or living with only a share of something.

    People facing death from violent deprivation won’t fear death by other less certain means, thus making the masses less controllable by means of repressive violence only.

    The assholes who took the lid off banking by repealing the Glass-Steagall Act let the old demons out of Pandora’s Box again.

  3. «… if robots replace us, how are we supposed to earn a living?» And why is Deutsche Bank supposed to care if we (the 99.999 %) can earn a living or not, Ted ? That’s not really its remit….

    Henri

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