ARTICLE
9 February 2024

Banking And Tech Most Impacted By AI

FL
Foley & Lardner
Contributor
Foley & Lardner LLP looks beyond the law to focus on the constantly evolving demands facing our clients and their industries. With over 1,100 lawyers in 24 offices across the United States, Mexico, Europe and Asia, Foley approaches client service by first understanding our clients’ priorities, objectives and challenges. We work hard to understand our clients’ issues and forge long-term relationships with them to help achieve successful outcomes and solve their legal issues through practical business advice and cutting-edge legal insight. Our clients view us as trusted business advisors because we understand that great legal service is only valuable if it is relevant, practical and beneficial to their businesses.
Having AI handle human work could result in big savings for banks and technology companies. Research estimates that banks and some technology companies spend 60-80%...
United States Finance and Banking
To print this article, all you need is to be registered or login on Mondaq.com.

Having AI handle human work could result in big savings for banks and technology companies. Research estimates that banks and some technology companies spend 60-80% (or more) of their payrolls on workers in occupations most likely to be affected by AI.

Separately, the report found that the retail, restaurant, and transportation industries are least likely to be affected by generative AI development.

Most experts expect that AI will mostly CHANGE jobs for the next few years rather than ELIMINATE them. How will AI change your job?

New research suggests that generative A.I. — the kind used in chatbots like OpenAI's ChatGPT — will have its biggest impact on white-collar workers with high-paying jobs in industries like banking and tech.

www.nytimes.com/...

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

ARTICLE
9 February 2024

Banking And Tech Most Impacted By AI

United States Finance and Banking
Contributor
Foley & Lardner LLP looks beyond the law to focus on the constantly evolving demands facing our clients and their industries. With over 1,100 lawyers in 24 offices across the United States, Mexico, Europe and Asia, Foley approaches client service by first understanding our clients’ priorities, objectives and challenges. We work hard to understand our clients’ issues and forge long-term relationships with them to help achieve successful outcomes and solve their legal issues through practical business advice and cutting-edge legal insight. Our clients view us as trusted business advisors because we understand that great legal service is only valuable if it is relevant, practical and beneficial to their businesses.
See More Popular Content From

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More