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Wealth Manager Stocks Sink as Traders Flee Next AI Casualty

hank
edited February 10 in Other Investing
Yahoo Link (Originally from Bloomberg)

https://finance.yahoo.com/news/wealth-manager-stocks-sink-ai-172526640.html

I'm wondering what will be left to invest in after AI has taken its toll? In search of answers, I asked AI to list 50 industries likely to lose business to AI. Here's the list generated at lightening speed:

Here are 50 industries most impacted or disrupted by AI, as identified by DigitalDefynd Education and corroborated by other analyses:

Manufacturing (due to industrial robots and AI-driven quality assurance)
Retail Trade (self-checkout, AI inventory, chatbots)
Transportation & Logistics (autonomous vehicles, drones, route optimization)
Banking, Financial Services, and Insurance (BFSI) (fraud detection, robo-advisors, transaction processing)
Customer Service (AI chatbots handling 80% of routine interactions)
Healthcare Administration (billing, coding, scheduling automation)
Legal Services (document review, legal research)
Marketing & Advertising (AI-driven content creation, targeting)
Education (instructional content, grading, tutoring)
Journalism & News Reporting (automated news writing)
Writing & Authoring (content creation, copywriting)
Translation & Interpreting (AI language models)
Data Entry & Clerical Work (automated data processing)
Bookkeeping & Accounting (AI-driven financial reporting)
Human Resources (resume screening, candidate matching)
Real Estate, Rental & Leasing (property listings, virtual tours)
Wholesale Trade (inventory management, forecasting)
Telecommunications (automated customer support)
Public Relations (content drafting, media monitoring)
Technical Writing (manuals, documentation)
Proofreading & Copy Editing (AI grammar and style checks)
Market Research (data analysis, trend prediction)
Archiving & Records Management (digital cataloging)
Web Development (AI-generated code)
Graphic Design (AI image generation)
Music Production (AI composition, mixing)
Film & Video Production (scriptwriting, editing)
Photography (AI-generated images)
Fashion Design (AI pattern generation)
Travel & Tourism (booking, itinerary planning)
Event Planning (logistics, vendor coordination)
Insurance Underwriting (risk assessment)
Supply Chain Management (forecasting, optimization)
Retail Banking (customer service, loan processing)
Compliance & Risk Management (regulatory monitoring)
Corporate Training (e-learning content)
Software Development (code generation, testing)
Public Safety Telecommunications (call handling)
Library Science (cataloging, reference services)
Political Science & Research (data analysis, reporting)
Economics Research (forecasting, modeling)
Urban Planning (data-driven simulations)
Agriculture (precision farming, crop monitoring)
Mining & Quarrying (automated equipment)
Oil & Gas Extraction (predictive maintenance)
Construction (project planning, safety monitoring)
Utilities & Energy (grid management, predictive maintenance)
Government Services (administrative tasks, citizen support)

Comments

  • Old_JoeOld_Joe
    Ummmm... I know!!!   AI !!!   I are smart!
  • rforno
    edited February 11
    As someone online posted on social media:

    NVDA is the lender.
    OpenAI is the subprime mortgage borrower
    Oracle is Fannie Mae.
    It's 2008 subprime crisis again with AI name outside.

    I agree we are in the early-to-mid 2006 of the 'Great AI Crisis' ... but unfortunately there are few if any sane people leading these companies or our government capable of righting the ship before, or as, it goes down. History may not repeat, but it sure as hell rhymes. (After all, markets are all about human tendencies and psychology.)

    Relatedly, this long read is EXCELLENT commentary on AI these days and what it portends:

    Something Big Is Happening
    https://shumer.dev/something-big-is-happening

  • AnnaAnna
    Old_Joe said:

    Ummmm... I know!!!   AI !!!   I are smart!

    AI+ = I are smarter than you.

    😜

  • rforno
    Anna said:

    Old_Joe said:

    Ummmm... I know!!!   AI !!!   I are smart!

    AI+ = I are smarter than you.

    😜

    Pronounced "AaaaaEye am smarter than you - so there!" lol
  • howaya
    I have always been technology-challenged, dating back to programming a VCR. The difficulty I have to make an app work as is should is so frustrating now I often by default decide to no longer even try. But now that I have read the entry above by @rforno,
    Something Big Is Happening https://shumer.dev/something-big-is-happening,
    I feel compelled to suffer through the inevitably oh-so-steep learning curve of AI. To that end, it crossed my mind that one project I could ask it to do is my federal and state tax returns. At $20/month I would have full access for nearly a year before I spent as much on Turbotax. Is that a reasonable project?
  • rforno
    howaya said:

    I have always been technology-challenged, dating back to programming a VCR. The difficulty I have to make an app work as is should is so frustrating now I often by default decide to no longer even try. But now that I have read the entry above by @rforno,
    Something Big Is Happening https://shumer.dev/something-big-is-happening,
    I feel compelled to suffer through the inevitably oh-so-steep learning curve of AI. To that end, it crossed my mind that one project I could ask it to do is my federal and state tax returns. At $20/month I would have full access for nearly a year before I spent as much on Turbotax. Is that a reasonable project?

    If it's a very simple tax return, maybe. If it's complicated, I would go with TTax or a CPA .... I don't trust AI for anything mission-critical yet myself.

    I continue to use Perplexity for company/investment research and find it very helpful. That it provides links to everything it finds is worth its weight in gold and avoids the 'just trust me' from the other GPT services ... but then again I use it more like Google-on-Steroids than to draft documents or analyze reports. Which I may start doing over the summer when I have more time.
  • DrVenture
    I agree. I would not trust AI to do my taxes, yet. My concern would be an egregious error resulting in audit or having to amend the return. Major PITA.

    At this point, nearly anything can either be scanned or imported, really simplifying the tedium and avoiding typos.
  • PRESSmUPPRESSmUP
    rforno said:



    Relatedly, this long read is EXCELLENT commentary on AI these days and what it portends:


    Thanks for the somewhat sobering report. After reading that, I’m just glad to be retired. I’m really not sure how recent high school graduates can sort through their options in this environment.

    As for choosing investments in that same environment, that might be another chore.
  • WABACWABAC
    rforno said:

    howaya said:

    I have always been technology-challenged, dating back to programming a VCR. The difficulty I have to make an app work as is should is so frustrating now I often by default decide to no longer even try. But now that I have read the entry above by @rforno,
    Something Big Is Happening https://shumer.dev/something-big-is-happening,
    I feel compelled to suffer through the inevitably oh-so-steep learning curve of AI. To that end, it crossed my mind that one project I could ask it to do is my federal and state tax returns. At $20/month I would have full access for nearly a year before I spent as much on Turbotax. Is that a reasonable project?

    If it's a very simple tax return, maybe. If it's complicated, I would go with TTax or a CPA .... I don't trust AI for anything mission-critical yet myself.

    I continue to use Perplexity for company/investment research and find it very helpful. That it provides links to everything it finds is worth its weight in gold and avoids the 'just trust me' from the other GPT services ... but then again I use it more like Google-on-Steroids than to draft documents or analyze reports. Which I may start doing over the summer when I have more time.
    Every time I open a .pdf in Adobe now it wants to summarize it for my poor widdo hed because it's really long and might be hard to read. So lately I default to opening them with Sumatra.
  • Old_JoeOld_Joe
    Yes, I had missed that report link until PRESSmUP mentioned it. Holy S__T!

    "After reading that, I’m just glad to be retired."   I just said that to my wife re AI the other evening. And that was before reading rforno's report.
  • MarkMark
    Very, very interesting report. I actually might have to start paying attention. Thanks.
  • Old_JoeOld_Joe
    Boy- simply very, very scary. Really glad that I'm as old as I am. I was an electronics/radio tech, and my specialty was technical writing for the rest of the shop. Documenting almost everything that I learned so that other techs didn't have to go over the same ground again and again.

    Forget that... AI is now doing that job.
  • hank
    edited February 11
    I'd like to install one of those latest AI Apps. If so smart, how do we prevent it from stealing and selling our data? Or is it dumb in that regard? Can you buy a "dumb" AI that wouldn't think to steal anything?
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