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Yeah the robots will take our jobs. Just 1 question - finance is the pioneer of commercial application of digital machines. Not talking HFT here at all. Algori

Yeah the robots will take our jobs. Just 1 question - finance is the pioneer of commercial application of digital machines. Not talking HFT here at all. Algorithms in trading stocks/otpions. Algorithms and programming in valuation in private equity. Algorithms in insurance and lending. Automation is everywhere. How come jobs in the sector only grow? Both in the big employers and in new employers. How about an example closer to the HN crowd - BI. Such a prolifiteration in self-service BI. You previously had to wait 2 weeks for IT to update the cube, now you can do your analysis yourself in 50% of those cases. Corporate BI and reporting jobs should be declining because of this automation, right? How come the sector is exploding?

devonkim 11y ago
Demand and investment are closely related. If there's no obvious winners of there's evidence that the market can grow, it makes sense that people will I he's in new offerings. Not every BI stack is based around Microsoft and Oracle's stack, but we don't quite have the Salesforce of BI yet that pretty much dominates 60%+ of a possibly nearly-saturated market.
T-A 11y ago
Not sure about finance: http://data.bls.gov/timeseries/CES5500000001?data_tool=XGtable http://data.bls.gov/timeseries/CES5500000001?data_tool=XGtab...
- blumkvist 11y ago
  Oh gees, the financial crisis affected the job market. Shocking...
  - T-A 11y ago
    The financial crisis broke out in the fall of 2008. Employment in finance peaked in 2006, and it has yet to reclaim 2005 levels. I would not be terribly surprised to see that chart turn down again before it does.
    - Animats 11y ago
      Observers of the financial services industry talk about how the industry has a lot of "self-generated work". If the legal environment of the industry were rolled back to, say, 1980, the industry would be smaller and much more boring. From 1934, when the SEC was created, to 1980, the US financial industry was highly regulated, boring, and had few crises. It also created no billionaires.

devonkim 11y ago

Demand and investment are closely related. If there's no obvious winners of there's evidence that the market can grow, it makes sense that people will I he's in new offerings. Not every BI stack is based around Microsoft and Oracle's stack, but we don't quite have the Salesforce of BI yet that pretty much dominates 60%+ of a possibly nearly-saturated market.

T-A 11y ago

Not sure about finance: http://data.bls.gov/timeseries/CES5500000001?data_tool=XGtable http://data.bls.gov/timeseries/CES5500000001?data_tool=XGtab...

blumkvist 11y ago
Oh gees, the financial crisis affected the job market. Shocking...
- T-A 11y ago
  The financial crisis broke out in the fall of 2008. Employment in finance peaked in 2006, and it has yet to reclaim 2005 levels. I would not be terribly surprised to see that chart turn down again before it does.
  - Animats 11y ago
    Observers of the financial services industry talk about how the industry has a lot of "self-generated work". If the legal environment of the industry were rolled back to, say, 1980, the industry would be smaller and much more boring. From 1934, when the SEC was created, to 1980, the US financial industry was highly regulated, boring, and had few crises. It also created no billionaires.