Bank CEO: Big Number of Employees Will be Replaced by Robots (because of Min Wage), We Wont Need as Many People

Deutsche Bank CEO John Cryan has claimed that a ?big number? of his employees will be replaced by robots eventually.

?In our banks we have people behaving like robots doing mechanical things, tomorrow were going to have robots behaving like people,? proclaimed Cryan at Frankfurt?s Handelsblatt banking conference, Wednesday. ?We have to find new ways of employing people and maybe people need to find new ways of spending their time? The truthful answer is we wont need as many people.?

?We need to admit that what we had is nice but its not necessarily for the future,? he continued, claiming, ?We need more revolutionary spirit.?

Business Insider added that ?Cryan did not give any concrete indication of how many staff may eventually be replaced by technological advances, but said it would be a ?big number'? of the roughly 100,000 people currently employed by Deutsche Bank.

Robots are now able to take part in construction, ironing, and kitchen-work, and could soon replace security, sports umpires, the military, and even lawyers.

In May, Google China Founder Kai-Fu Lee claimed artificial intelligence will probably replace 50 percent of human jobs, while in June, Russian chess grandmaster Garry Kasparov said humans need ?to start recognizing inevitability of machines taking over more and more tasks that we used to do in the past.?

?Its called progress, he declared, adding ?we should just take it as a fact, and look into the future trying to understand how can we adjust?.

Others, including Lieutenant Governor of California Gavin Newsom, want to fight the replacement of humans in employment.

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