Artificial Intelligence Processes for Banks Will Come at a Price
JoTo PR Client, Condusiv Technologies, was featured in a bylined article in the Chicago Tribune titled, Artificial intelligence Will Wipe out Half the Banking Jobs in a Decade, Experts say.
Advances in artificial intelligence and automation could replace as many as half the nation’s financial services workers over the next decade, but it’s going to take a big investment to make that happen. James D’Arezzo, CEO of Glendale, Calif.-based Condusiv Technologies, says that’s where things are headed. And the process will be complicated. “Unless banks deal with the performance issues that AI will cause for ultra-large databases, they will not be able to take the money gained by eliminating positions and spend it on the new services and products they will need in order to stay competitive,” he said.
Intensive hardware upgrades are often cited as an answer to the problem, but D’Arezzo said that’s prohibitively expensive. He cited a recent announcement from the Tokyo Institute of Technology Global Scientific and Computing Center as an example. The center is developing a supercomputer to meet the demands of artificial intelligence and big data applications. But existing supercomputers tend to cost $50 million to several hundred million dollars, he said, which negates the cost-reduction advantages of AI technology.
Condusiv Technologies is the world leader in software-only storage performance solutions for virtual and physical server environments, enabling systems to process more data in less time for faster application performance. Condusiv guarantees to solve the toughest application performance challenges with faster-than-new performance via V-locity® for virtual servers or Diskeeper® for physical servers and PCs. With over 100 million licenses sold, Condusiv solutions are used by 90% of the Fortune 1000 and almost three-quarters of the Forbes Global 100 to increase business productivity and reduce data center costs while extending the life of existing hardware.
Chicago Tribune’s website is updated throughout the day to provide viewers with the latest breaking news and current events. Main sections include News, Sports, Entertainment and Business. The Today’s Newspaper section contains content from the print version.
Do you have a story to tell? One that needs to be shared?
JoTo PR’s proprietary PR process can get you the exposure you deserve.
Contact us today at 888-202-4614