Dark Pools

Traders are worried how long they have left on Wall Street. Here is an article about how a Goldman equities desk has gone from needing 500 people to just 3. Being a private trader myself I don’t have experience of how these trading desks work but I feel it will be the same on Wall Street as most other industries, robots will be used in some areas to drive efficiencies but you will ultimately always need lots of good people.

Quantum computing may change that but will bring with it new problems, that will create jobs in new areas that don’t exist in today’s world.

If you are interested ‘Dark Pools: The rise of A.I. trading machines and the looming threat to Wall Street‘ is a great read on the subject.

“Dark Pools is the pacy, revealing, and profoundly chilling tale of how global markets have been hijacked by trading robots – many so self-directed that humans can’t predict what they’ll do next.It’s the story of the blisteringly intelligent computer programmers behind the rise of these ‘bots’. And it’s a timely warning that as artificial intelligence gradually takes over, we could be on the verge of global meltdown.

‘Scott Patterson has the ability to see things you and I don’t notice.’ Nassim Nicholas Taleb, New York Times bestselling author of Antifragile, Fooled by Randomness and The Black Swan”

Here Amazon are upskilling employees in areas where robots will take their jobs as they exist in today’s format.

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