Actuarial Outpost
 
Go Back   Actuarial Outpost > Actuarial Discussion Forum > Careers - Employment
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions


Reply
 
Thread Tools Display Modes
  #171  
Old 02-14-2017, 07:04 PM
snakeroberts snakeroberts is offline
Member
 
Join Date: Jul 2016
College: k
Posts: 241
Default

damn I know Im talking to myself but I should add "good looking people" will have jobs too, modeling. Thats the problem with over generalizations you always forget some class.

so if your ugly, dumb, and uncoordinated and from a low class family your screwed. same as it ever was but more so.
Reply With Quote
  #172  
Old 02-14-2017, 08:49 PM
Abelian Grape's Avatar
Abelian Grape Abelian Grape is offline
Member
 
Join Date: Jul 2014
Location: Commuter
Studying for Viticulture dissertation
College: Grape and Wine Institute
Favorite beer: Wine
Posts: 31,422
Default

Quote:
Originally Posted by snakeroberts View Post
damn I know Im talking to myself but I should add "good looking people" will have jobs too, modeling. Thats the problem with over generalizations you always forget some class.

so if your ugly, dumb, and uncoordinated and from a low class family your screwed. same as it ever was but more so.
Your friendship with snakeroberts is already pending
Reply With Quote
  #173  
Old 02-14-2017, 10:06 PM
JoJo JoJo is offline
Member
 
Join Date: Jan 2002
Posts: 1,229
Default

Quote:
Originally Posted by hjacjswo View Post
calm down brah. if anything, accountants will be automated first.
I'm thinking about having my taxes done by Watson this year.

Just kidding. Doing them myself.
Reply With Quote
  #174  
Old 02-15-2017, 05:30 PM
campbell's Avatar
campbell campbell is offline
Mary Pat Campbell
SOA AAA
 
Join Date: Nov 2003
Location: NY
Studying for duolingo and coursera
Favorite beer: Murphy's Irish Stout
Posts: 75,109
Blog Entries: 6
Default

https://www.technologyreview.com/s/6...re-threatened/

Quote:
Business Impact

As Goldman Embraces Automation, Even the Masters of the Universe Are Threatened

Software that works on Wall Street is changing how business is done and who profits from it.

by Nanette Byrnes February 7, 2017

At its height back in 2000, the U.S. cash equities trading desk at Goldman Sachs’s New York headquarters employed 600 traders, buying and selling stock on the orders of the investment bank’s large clients. Today there are just two equity traders left.

Automated trading programs have taken over the rest of the work, supported by 200 computer engineers. Marty Chavez, the company’s deputy chief financial officer and former chief information officer, explained all this to attendees at a symposium on computing’s impact on economic activity held by Harvard’s Institute for Applied Computational Science last month.

The experience of its New York traders is just one early example of a transformation of Goldman Sachs, and increasingly other Wall Street firms, that began with the rise in computerized trading, but has accelerated over the past five years, moving into more fields of finance that humans once dominated. Chavez, who will become chief financial officer in April, says areas of trading like currencies and even parts of business lines like investment banking are moving in the same automated direction that equities have already traveled.

.....
Goldman Sachs has already begun to automate currency trading, and has found consistently that four traders can be replaced by one computer engineer, Chavez said at the Harvard conference. Some 9,000 people, about one-third of Goldman’s staff, are computer engineers.

Next, Chavez said, will be the automation of investment banking tasks, work that traditionally has been focused on human skills like salesmanship and building relationships. Though those “rainmakers” won’t be replaced entirely, Goldman has already mapped 146 distinct steps taken in any initial public offering of stock, and many are “begging to be automated,” he said.

Reply With Quote
  #175  
Old 02-15-2017, 07:31 PM
kimjongfun kimjongfun is offline
Member
SOA
 
Join Date: Jan 2015
Studying for C
Posts: 621
Default

Quote:
Originally Posted by snakeroberts View Post
Elon Musk also thinks fully automated cars will be here in 10 years, which if true would cut out the personal lines actuary. its already creeping e.g. lane assist and other techs become common and cheaper.

In 50-100 years if your not born with IQ>150 or not born to rich family, or not a star athlete, you are going to be on some form of welfare or live a Luddite life in the woods. It could be worse... you could be in a N. korea gulag.

I say that with the assumption that any new jobs created will have a higher "g" (general smarts) threshold than in the past.
Perhaps gene selection will allow everyone to have an iq above 150
Reply With Quote
  #176  
Old 02-15-2017, 07:53 PM
ElDucky's Avatar
ElDucky ElDucky is offline
Free Mason
 
Join Date: Jul 2004
Location: In a van, down by the river
Studying for Let me worry about blank
Favorite beer: Trappistes Rochefort 8
Posts: 35,482
Default

Quote:
Originally Posted by kimjongfun View Post
Perhaps gene selection will allow everyone to have an iq above 150
Machine based neurons
__________________
Reply With Quote
  #177  
Old 02-16-2017, 11:53 AM
snakeroberts snakeroberts is offline
Member
 
Join Date: Jul 2016
College: k
Posts: 241
Default

Quote:
Originally Posted by campbell View Post
I wonder if they will automate the creation of "pitch books"
Reply With Quote
  #178  
Old Yesterday, 01:14 AM
thinhnham2806's Avatar
thinhnham2806 thinhnham2806 is offline
Member
CAS SOA
 
Join Date: Oct 2012
Location: Dallas
Posts: 189
Default do not fear automation

In my opinion, a lot of work we are doing might not be actuarial. Automation can help us get these boring non-actuarial tasks done so actuaries can focus on actuarial work. I might be wrong on this but I am optimistic that automation will not replace actuarial work !
__________________
FM PMLC
Reply With Quote
  #179  
Old Yesterday, 03:35 PM
Hello, My Baby's Avatar
Hello, My Baby Hello, My Baby is offline
Member
CAS
 
Join Date: Jun 2016
Posts: 198
Default

Quote:
Originally Posted by thinhnham2806 View Post
In my opinion, a lot of work we are doing might not be actuarial. Automation can help us get these boring non-actuarial tasks done so actuaries can focus on actuarial work. I might be wrong on this but I am optimistic that automation will not replace actuarial work !
I think whether or not a job can be automated away is very situational and depends on the specific nature of the job.
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 04:36 AM.


Powered by vBulletin®
Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 0.16382 seconds with 12 queries