Deutsche Bank deploys an army of robots to replace 18,000 workers

Whoops, somebody better go tell Angela Merkel that it looks like Germany didn’t need Hassan and his 19 cousins to work the teller windows after all.

As part of a radical $8.3 billion restructuring plan, the multinational Deutsche bank has so far axed over 4,000 jobs, with some 18,000 more staff cuts to come by 2022.

The use of artificial intelligence has “massively increased productivity” in certain sectors of the business, according to Mark Matthews, the head of operations for Deutsche’s corporate and investment bank.

He told the Financial News that so far “680,000 hours of manual work” has already been saved.The bank has “used bots to process 5 million transactions in its corporate bank and perform 3.4 million checks within its investment bank.”

Matthews said the headcount “will continue to go down; there’s no question about that. Our model is to reduce costs and, at the same time, improve our control environment and the client experience.”

Deutsche bank is pushing to “automate large parts of its back-office” via a new strategy called “Operations 4.0,” as part of its $6.6 billion savings initiative over the next three years.

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Let’s hope those 18k are libshit lefties with outstanding college loans.

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Once all menial jobs are automated we can move into a post job society or a frenzied dystopian shithole.

Either way I’m down for either.

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I want full automation to get here as fast as possible. Once it takes over everything I want to move out into the country and become a subsistence farmer like humans have been doing for thousands of years. I feel like that will be one option isn’t going away.

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As automation improves, everything will get cheaper and cheaper, even buying your own automation equipment. This is the process of civilization. If the central bankers stopped inflating these gains away, in 50 years things would be so cheap you could support yourself on the equivalent of $1 an hour or less. This means you could make an actual living by just grinding for WOW gold or something basically useless like that.

But this will never be a reality while the central bankers keep preventing deflation and while we have minimum wage laws. They still have the soviet dream of everyone doing hard jobs in a factory for the next ten thousand years, but they’ll be our overlords so they don’t care.

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What’s the point of improving efficiency to a point that humans are no longer relevant?

We are irrelevant from the get-go. All religious people will tell you one thing or another but they are totally irrelevant.

The move by Deutsche Bank seems the bank is desperate. Don’t be surprised if it goes belly up, just before the 2020 US elections, and if that happens, it won’t benefit Trump at all.

Humans can think, unlike machines and leftists. Learn to code, pleb.

This doesn’t have anything to do with automation. That’s just what Deutsche Bank is saying to cover their asses. The reality is, Deutsche Bank is unraveling. They’ve been shedding tens of thousands of employees and today they sold $50B in assets. This could all be part of a slow, controlled collapse.