AIFortuneabout 3 hours ago
Vanguard Economist: AI Jobs Still in ATM Phase
4 min read
Vanguard chief economist Adam Schickling compares AI's labor impact to ATMs, which kept U.S. bank teller employment stable from 1980 through 2010. Mobile banking, not ATMs, caused real disruption, with branch-primary customers falling from 36% in 2007 to 9% by 2025. AI remains in the ATM phase.
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