Deutsche Bank CEO suggests robots could replace half the company’s 97,000 employees

John Cryan, CEO of Deutsche Bank (Thomas Lohnes | Getty Images)


Some very smart people say that robots are going to steal your job.

Researchers at Oxford University estimate that 47 percent of U.S. jobs could be replaced by robots, automated technology and automated intelligence (AI) within the next 20 yearsJeff Hesse, PwC principal and U.S. people and organization co-leader, tells CNBC Make It, “The displacement is already beginning to happen.”

Elon Musk told the National Governors Association, “There certainly will be job disruption. Because what’s going to happen is robots will be able to do everything better than us.” Musk even went so far as to say that “AI is a fundamental risk to the existence of human civilization.

Continue reading

FINANCIAL CRASH FEARS: Crisis signs as US jobs market plunges to worst level in six years

AMERICA shocked global markets today as it unveiled the worst set of job figures since the recovery out of the financial crisis.

The dollar and world stock markets plunged today after it was revealed just 38,000 new US jobs were created last month – below expectations of around 164,000 and the the lowest figure since 2010.

Furthermore, employers hired 59,000 fewer workers in March and April than had previously been reported.

Continue reading