-200k Grapes of Wrath

🤖Explore the debate on AI's job impact . Is AI a job killer or reshaping work for the better? 🔢

WSJ on the Man Group

https://www.wsj.com/articles/hedge-fund-spreadsheet-application-arcticdb-c98906f0?mod=ai_lead_pos2

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Transcript

-200k Grapes of Wrath

日本のリスナーの皆さん、本当にありがとう！  気軽にテキストを送ったり、ポッドキャストを友達に送ったりしてください。  それは大きな違いを生みます。

ありがとうございました！

Well, if you haven’t heard, we got a new President.  Hard to avoid the news … pro or con, it is dominating the interwaves.  If you get that, then good.

Now, the Trump Crypto Coin has also been in the news.  Big time.  One day we just might find out that Trump is just some great holographic image and we all fell for it … good or bad, it does beg a question about what is real, what we believe, and why we believe it.  

Beyond the election ponder, I read an interesting article in the Wall Street Journal about Excel, but on steroids.  I fell for the grab, and I have left the link in show notes, just for you!  January 16, 2025, by Isabelle Bousquette, Titled, ”This Hedge Fund Created an Excel on Steroids”

https://www.wsj.com/articles/hedge-fund-spreadsheet-application-arcticdb-c98906f0?mod=ai_lead_pos2

Now, Excel, we know.  Boring cells of data that crunch numbers like a kid eating Cheez-Its while mom watches The Bold and the Beautiful.  I guess the modern version would be mom on social media.  You get it.

Well, innovation and the Mother of Invention, an old story.  And the Man Group, a hedge fund based in jolly ol’ London, seeking a competitive advantage, has put some pure HGH boost in Excel.  Get used the theme, it is soon to be everywhere … that is not what you know, but better, faster, stronger.

Now, the Man Group is no stranger to the world.  Founded in 1783, it be pretty old.  And they manage $175B in assets.  So no small turkey, here.

But back up, and get beyond the history and get to the themematic backstory. Think super analytics, to find that competitive edge in prediction, to outdo the competition for better returns.  Indeed, AI will be about the money, in the end.  Yours?  Well, that is still up in the air.  But what you must  understand, is that bigger data, more crunch, more cloud ‘whatever’ in the quest for profits, it the big cookie chased by all the AI bakers.

So this big, massive data breathing dragon for better results.  Taking the man (or woman) out of it … the sage parked and the AI doing the work.  Better than those white shirts from Wall Street.

So it goes.  The prediction is that, while we fret about being left behind, AI will result in up to 200k jobs to be lost on Wall Street.  So all that trading and dash for the edge will not just affect you, but those you pay money to manage a later you.  We aren’t talking 20th Century chest beating about breaking glass ceilings.  That is dinospeak.  We are talking about 21st Century glass building breaking … right to the foundation.

So the takeaway is larger than that super Excel spreadsheet.  The big data chase will get most of us, sooner or later.

CNN, that ever shrinking, shrill, once respected media org that is buried in media ruble, reports that 41% of companies plan AI to result in layoffs in 2025.  

So before you buy the “AI Better” argument, understand the chase for competitive advantage like what the Man Group is building, but has effects well past those financial titans.  

Tech roles cometh, but Administrative Assistants and Graphic artists goeth.  

And for some hard to swallow proof, just think about 2025 so far:

Meta.  5% layoff

BP: 7700 gone

Blackrock: 1% gone

Bridgewater: 7%

Washington Post: 4%

Ally Bank: 5%

Microsoft: no number, but making cuts

Boeing 400 last round.  And more on the way

State Governments.  Plan on around 6% for many states

Spirit Airlines: 200

Get the drift?  All this big data and digital help is shaking things up more than ever.  And it’s not the blue collar getting the hits like some acid trip of the 70s.  The middle class, white collar crowd is taking the brunt, as it will take less human capital to achieve a financial result.

And this my friends, is just the beginning.  The new era is here, and all that AI, quantum, robotic fringe stuff is right at our doorstep, and that workin man 9-5 sort of thinking is about to get a snowglobe shake in the heat of July.  And everyone will want to apply ice to it all.  Everything.  

Most will just have to hold on for dear life and see where it all goes.  One thing that won’t happen is some sort of pan flash and the slow roll of technology that goes from a giant super computer in the 70s in a separate building to your grandma taking on an email address and a social media presence.

No, this is better and faster (and worse) than anything we have experienced before.

It may make many things better, but it will take a lot fewer people to do it, begging one to wonder if The Grapes of Wrath is upon us, once again.  Or is that, Excel’s Final Destructive Calculator.

More later …

#artificialintelligence,#aijobloss,#automationimpact,#futureofwork,#techdisruption,#aijobshift,#workforcetransformation