In my weekly sales meetings at one of the major banks in Canada, the main focus has been wrapping up the details of all my client appointments in an app designed to be a hub for all client data. Income and expenses, financial goals, investment and credit discussions all recorded in detail. The idea, although they won’t frame it in this way, is that eventually the system will tell them everything they need to know about a client and automatically send offers and provide services catered to the clients’ needs. They won’t need human advisors.

Jack Dorsey in his recent announcement of 40% staff lay offs at Block, said with confidence that other companies are only lagging behind, but there would soon be corporate lay offs similar to Block’s across the board, within the next year or so. And I have no reason to doubt the validity of his statement.

Robot replacement theory is not a myth. And the only solution to it, is for the employee to become a business. AI is here to help business owners cut costs. And so we must own our business in order to survive the financial hardships ahead.