Mike Dubno on What Automation Means for Wall Street

The video discusses the increasing automation in finance, highlighting the shift from traditional roles to data-driven processes. It explores the future of finance, where automation will dominate, reducing human involvement. The impact of AI on jobs is examined, with predictions of significant changes in the workforce. The role of technology in risk management is emphasized, showcasing how systems and processes can enhance decision-making in financial institutions.

What is a key trend in the finance industry regarding data and relationships?

• Rise in traditional sales roles

• Decline in data-driven decisions

• Greater interest in data access

• Increased focus on personal relationships

What is the predicted end state of finance according to the transcript?

• Increased human involvement in trading

• Complete automation with minimal human involvement

• A return to manual trading

• A balance between manual and automated processes

What percentage of trades are currently done by electronic agents?

• 70%

• 50%

• 100%

• 90%

How long is the expected timeline for significant automation changes in finance?

• 20 to 30 years

• 5 to 20 years

• 30 to 50 years

• 1 to 5 years

What is a potential consequence of unchecked technological development?

• A revolt against technology

• A decrease in AI capabilities

• Increased manual labor

• Slower technological progress

What was a key factor in Goldman's success during the financial crisis?

• Avoiding technological advancements

• Effective use of integrated systems

• Ignoring risk management systems

• Relying solely on human intuition

What is becoming more important as people become a smaller component in systems?

• The quality of software and data

• The number of employees

• The size of the company

• The amount of manual processes