By 2030, some 400,000 full-time jobs in capital markets — including asset management, investment banking and brokerage — will be lost as technology and artificial intelligence (AI) supplant humans, predicts Opimas, a research consultancy.
“There will be blood on Wall Street if the workforce fails to adapt,” says Axel Pierron, co-founder and managing director of Opimas. If a role involves doing calculations, such as equity trading, he adds, a machine will be able to do it faster and more accurately.
But there are opportunities for masters in finance (MiF) graduates. The blend of technological and financial knowledge is a sweet spot, as is a growing Asian economy and new opportunities in areas such as risk management.