The magazine Accountancy Today reports that 515,863 jobs are set to disappear in the UK’s finance industry by the year 2030. Automation and technical changes (including robots of one sort or another) will destroy over half a million jobs in banking and finance in the UK alone. The same thing will happen in every other country in the world.
Banks, which are expecting to have got rid of cash by then, will be dealing with digital money only. There will be no need for high street banks or for tellers. Big banks and insurance companies will manage with just a few engineers to service their machinery.
Bank staff who now regard cash as a nuisance should be aware that without cash they will be unemployed. But that’s the tip of a very large iceberg. Everything I’ve listed below is going to happen in every country in the world – but it will happen first in the most developed countries.
Shops, especially supermarkets and large stores are going to get rid of most of their staff within this decade. Automatic tills will replace check out staff and robots will do the shelf stacking. Just look at what is happening already at big warehouses. Deliveries will be made with self-driving vehicles.