Citigroup Inc. (NYSE: C) is looking to cut half of its 20,000 tech and operations staff and replace them with artificial intelligence, robotics, and other forms of automation.
Goldman Sachs International is looking to do something similar.
This is according to a series of interviews in the Financial Times.
A Gallup survey of 3,000 Americans released in March shows that 73% felt that AI would kill more jobs than it creates. That tracks with a 2016 survey by the Pew Research Center in which 65% said automation that includes AI would replace “much” of the work done now by humans.
People are scared – and I understand why.
But there’s a much bigger story here – and it’s a positive one for job seekers.
It’s a positive story for technology investors, too – so you know you’ll want to pay attention to this.
The truth is, AI-led automation is not a zero-sum proposition.
So, today let’s drill beneath these alarmist headlines.
Let’s discover how AI-driven automation is actually sparking a jobs boom.
And let’s dig up a hidden way to play this field with a stock that I think will double in less than 30 months.
Check it out…
Even if you’ve been trading cryptocurrencies and studying blockchain technology for years, you may not have heard of David Marcus until just recently.
However, when the history of this still brand-new industry is written, he’s going to go down as one of the more important behind-the-scenes power brokers.
Last month, you see, Marcus was promoted at Facebook Inc. (Nasdaq: FB) to head the social networking giant’s “experimental” blockchain unit. (I’ll tell you more about Marcus’ background in a moment.)
There’s more going on here than just a nice promotion in a hot new field. Facebook’s move comes several months after Marcus joined the board of directors at Coinbase, an online exchange I’ve used more many years.
And I’m sure many of you use Coinbase as well. (If you’re not crypto trading yet, I’ll start to show you how right here.)
After, the number of Coinbase users jumped exponentially throughout 2017 – from 400,000 in January to 4.3 million in December. Just check out this chart.
Marcus joined the board in that busy December – when Bitcoin and other e-currencies were reaching their all-time highs. Not so coincidently, shortly after that, Coinbase started an acquisition spree, pulling off four so far, and began reaching out to big-money institutional investors.
To me, while from the outside Coinbase may look like a new form of company, it’s really a classic Silicon Valley startup.
It’s even based in San Francisco – for why that’s important, take a look at this recent report.
And this post-Marcus series of moves tells me Coinbase is looking to go public.
Today, I’m going to show why these moves are so important for the future of crypto trading.
And I’ll how you can get involved – before Coinbase makes its IPO move…