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If anything technology has made our job harder. My MD learned how to make comments on his iPad and will send them at any waking (and non-waking) hour
I hope so!
General rule (maybe I heard bill gates says this) is people overestimate short term change and underestimate long run change. Seems like it makes sense here.
Next few years? I dunno - probably more of the same with incremental changes
Long term? Analysts could be obsolete - it’s laughable to suggest deep learning won’t enable software to generate perfect models/analysis perfectly in seconds.
Longest term? Maybe total disruption of investment banking business with new processes for identifying, structuring, negotiating and financing deals
Who will carry the books?
Short term - no
Medium term - technology will augment the analyst’s job. Fewer people will be needed to accomplish the same tasks. The people who remain will need to have a strong understanding of the underlying technology in order to maximize its potential. This is already happening in fields like trading and quantitative PM/research
Long term - Skynet will become self aware
I could see stuff like inputting/spreading financial data and graphics design being dramatically streamlined to the point where they don't take up a material amount of time any more. However there's tons of ad hoc modelling analysis that will always need to be custom made any an analyst.
Yes and no. The number of analysts is bound to reduce, however I won’t bet on them being absolute. Higher ups will always need someone to do the grunt work (although it would be close to none) and shit upon.
It really depends on the function of the analyst. I work in tech and have a good sense for a lot of what our business users do day to day and know 💯 we could automate the shit out of that.. but to get it done quickly, focused and correctly is hard to do for many reasons