Daily Management Review

Robots Robs Human Jobs At RBS


03/15/2016


Keeping up with the digitisation’s wave, RBS cuts down over five hundred employments.



The value and amount of manual work is in the decline making its way for the rise of automata force. As a result, the age of technology welcoming the robotics and absorbing the same in industrial world, has been cutting down on employment.
 
As per the report, Scotland’s Royal Bank has slashed as many as five hundred fifty jobs whereby replacing them “with so-called robo-advisers”.
 
The Royal Bank of Scotland puts the blame of reducing manual jobs on the “falling demand” of the “face-to-face services”. The said cut off were “set to occur” take place in RBS’s “investment advice and protection advice divisions”.
 
As per the Digitallook, it is to be “understood” that “a series of online questionnaires” will form part of the robotic advice and consequently the system will take help of algorithms to generate investment as well as protection advise to the clients. In the words of a spokesman of RBS:
"We want to help as many customers as possible invest their money in the right way for them”.
 
Along with the changing demand of the “face-to-face investment advice”, states RBS, more and more customers are looking forward to avail “digital technology” in their banking behaviour, whereby the spokesman was quoted adding:
"As a result, we are scaling back our face-to-face advisers and significantly investing in an online investing platform that enables us to help a new group of customers with as little as £500 pounds to invest”.
 
While, the Digitallook informs:
“The bank (RBS) was working to control its costs after posting an eight consecutive annual loss this year. It remained 73% owned by the government”.





References:
http://www.digitallook.com/
 







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