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Major Firm Announces It’s Replacing Its Employees with A.I.

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posted on Apr, 1 2017 @ 09:30 AM
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...It was only a matter of time before the impact of robots and automation would start having an effect on the white-collar workforce. Case in point: BlackRock, Inc, the world’s largest money manager, just announced that it plans to transition toward automated solutions.

...successful money management is essentially anchored on recognizing and following certain market indicators — the sort of things artificial intelligences (AI) can be programmed to do.

...BlackRock plans to merge traditional investing methods with technology and data science. This strategy marks the biggest shift in traditional stock picking by a major asset manager to date. It will impact $30 billion worth of assets...

Major Firm Announces It’s Replacing Its Employees with A.I.

Based in New York City, the USA's Black Rock, Inc. is a global investment management corporation. Kicking off its transition to Artificial Intelligence, Black Rock is laying off 13% of its portfolio managers, affecting $30 billion worth of investor's assets.

Black Rock's move shows that white collar work in finance is on the chopping block along with what's happening with AI in medicine and law.

Fact is, 49% of our work force could be replaced by robots right now. That includes blue collar AND white collar. It's not just grunt work in mining, transportation, manufacturing, food service and other industries getting replaced by robots and AI. So let's pull our heads out of the dark places where we hide them, straighten up, open our eyes and fasten our seat belts.





BlackRock, Inc. is an American global investment management corporation based in New York City. Founded in 1988, initially as a risk management and fixed income institutional asset manager, BlackRock is the world's largest asset manager with $5.1 trillion in assets under management.





posted on Apr, 1 2017 @ 09:42 AM
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a reply to: soficrow

Interesting.............Will keep tabs on this thread. Thanks!



posted on Apr, 1 2017 @ 09:43 AM
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I know man,it's sad but true..I used to work as web press assistant,My job was to stack the bundles using switches,turn dials,strap machine,and vacuum lift to put them on a pallet etc.That was 11 yrs ago,from I heard My prev job has gone A.I



posted on Apr, 1 2017 @ 09:50 AM
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So, in the near future, where are we going to earn money to buy the products AI makes or the services it provides? How can you invest money in this if you aren't making any money to invest?

Technology is beginning to be one of the worst thing that was invented. When working an office job, everything is at your fingertips, at least when you had to go file things you moved around and it was healthier. Oh wait, those desk jobs can easily be done by AI. No worry these people can now be at home and broke.


+3 more 
posted on Apr, 1 2017 @ 10:00 AM
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originally posted by: rickymouse
No worry these people can now be at home and broke.

At home and broke? It'll only take AI a millisecond to determine that useless eaters are ... well ... useless.


edit on 142017 by Snarl because: Reduced quoted text.



posted on Apr, 1 2017 @ 10:03 AM
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a reply to: rickymouse

Purges through private prisons and death. You herd enough desperate people in ghettos who have no jobs, medical care, poor education, and wars for the future, making for a failed civilization and democracy.



posted on Apr, 1 2017 @ 10:04 AM
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Well when people can not longer make money to buy into what companies wants them to buy and invest in, then they can have their robots boycott them for fair pay and Robots can start buying gadgets so companies can make money, hell robots can pay taxes too.

Who needs pesky, dirty, environmental hazards humans, we will become the bugs that needs to be fumigated to death


Boycott the darn companies.



posted on Apr, 1 2017 @ 10:10 AM
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OOH, a CIA front that won't ever spill the beans again. AI's don't have consciences do they?



posted on Apr, 1 2017 @ 10:10 AM
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a reply to: marg6043

The only progress left is up. To the stars and only the rich can do that. That is whom the corp and investors will make money from, like incest, and death. Hey its a new world welcome all the kiddies to it.



posted on Apr, 1 2017 @ 10:16 AM
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a reply to: MOMof3

I already make my mind that I will never support any companies that will take the human factor in their workforce to replaced it robots, I been in this world for a while already, have not much time left but whatever I have left and my health permit, I will boycott all those companies, will never buy their goods or invest with them.

I am sure and I hope that is more like me out there.



posted on Apr, 1 2017 @ 10:24 AM
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originally posted by: rickymouse
So, in the near future, where are we going to earn money to buy the products AI makes or the services it provides? How can you invest money in this if you aren't making any money to invest?

Technology is beginning to be one of the worst thing that was invented. When working an office job, everything is at your fingertips, at least when you had to go file things you moved around and it was healthier. Oh wait, those desk jobs can easily be done by AI. No worry these people can now be at home and broke.



Only one thing I have ever heard of would work and that is universal salaries... every American gets 3grand a month and then any work you can find is extra...


How painful will America have to get before the GOP agrees to anything like that lol...

How many millions will have to starve in the streets before they will admit there is even a problem?


+9 more 
posted on Apr, 1 2017 @ 10:27 AM
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Can we replace everyone in Washington with AI?



posted on Apr, 1 2017 @ 10:28 AM
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a reply to: JoshuaCox

By then I am sure that in America the stupid that always seems to think for the rest of us will have lobbied enough to give robots humans right just like corporations.

I see it coming.

Because in America "Stupid is as stupid does", is all about the money.



posted on Apr, 1 2017 @ 10:29 AM
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originally posted by: marg6043
a reply to: MOMof3

I already make my mind that I will never support any companies that will take the human factor in their workforce to replaced it robots, I been in this world for a while already, have not much time left but whatever I have left and my health permit, I will boycott all those companies, will never buy their goods or invest with them.

I am sure and I hope that is more like me out there.




Lol that won't help...


Robots doing all the work should be a great thing..

Humans could devote their lives to the arts, leisure and science.. it is a staple of sci fi startrek and many others all have similar systems..

The problem is we have all been raised to hate anyone who works less than you do, to the point where them and there. Children don't even deserve food , clothing and shelter..

Thank you reagan conservatism lol..



posted on Apr, 1 2017 @ 10:30 AM
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originally posted by: Aldakoopa
Can we replace everyone in Washington with AI?




Not sure you realized that is letting the robots rule government lol... scary



posted on Apr, 1 2017 @ 10:31 AM
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originally posted by: marg6043
a reply to: JoshuaCox

By then I am sure that in America the stupid that always seems to think for the rest of us will have lobbied enough to give robots humans right just like corporations.

I see it coming.

Because in America "Stupid is as stupid does", is all about the money.




Nah as you mentioned, they need a consumer class to buy things..

We will go universal salaries, but how many people starve in the streets before you have the political will for that..



posted on Apr, 1 2017 @ 10:34 AM
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a reply to: Aldakoopa

You might have something there...program all branches to follow the Constitution and serve the people!



posted on Apr, 1 2017 @ 10:35 AM
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a reply to: JoshuaCox

Sure is going to be hard to enjoy leisure, I will love to sit back and do nothing while still have a big bank account to do what I want.



posted on Apr, 1 2017 @ 10:56 AM
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As attractive as it sounds to companies, An EMP could ruin their whole operation. And after a few years away from the job, you would have to re-train workers to do what the AI did. And retro-fit the equipment to facilitate Humans.



posted on Apr, 1 2017 @ 10:57 AM
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Not to mention HACKING...... We could be brought to our knees in a moment.



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