Signs continue to emerge that the United States’ economy is past the worst of the coronavirus pandemic economic downturn, as official figures for August show the unemployment rate fell considerably, and nonfarm payroll employment also rose.
Automation saves time, cuts cost and carries out routine tasks with unmatched efficiency, so who wouldn’t welcome it? Possibly the people whose income currently depends on carrying out those tasks. Digitalization is guaranteed to strip out much routine work in banking, but it will not necessary mean fewer bank jobs. Roles will be reinvented so that technology frees human staff to provide customers with excellent advice and service.