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Culture of payments to large cash bonuses, the financiers of wall street comes to an end, stated Bloomberg. After interviewing experts, the Agency concluded that without money they will remain for artificial intelligence and robotics.
Now the financiers will have to give up, as they worked before. “We want to hire people who are interested in not only their own bonuses, but long-term planning,” explained the head working in the artificial intelligence division of the UBS Group Chris Pervs.
Moreover, specifies Bloomberg, the volume of bonuses now depend not on the success of a particular trader, and is determined by the efficiency of the whole Department or division.
According to recruiting company Options Group, the majority of payments will remain level or will decline. The average size of the annual bonus on wall street is about 153 thousand dollars. In 2018, a decline of 17 percent. Also, according to senior analyst at Wells Fargo Securities Mike Mayo, in the next ten years, automation can lead to a reduction of 200 thousand jobs.
Video, photo All from Russia.