Human Bankers Are Losing to Robots

❝ Something interesting happened in Swedish finance last quarter. The only big bank that managed to cut costs also happens to be behind one of the industry’s boldest plans to replace humans with automation.

❝ Nordea Bank AB, whose Chief Executive Officer Casper von Koskull says his industry might only have half its current human workforce a decade from now, is cutting 6,000 of those jobs. Von Koskull says the adjustment is the only way to stay competitive in the future, with automation and robots taking over from people in everything from asset management to answering calls from retail clients.

I imagine that Sweden’s labor culture will require, enable, a fair amount of retraining and education as required to meet this critical change in professional employment. Do I think anything comparable will be the response in the United States when similar job cuts take place?

That’s a rhetorical question, right?

Gulf of Mexico’s Dead Zone expected to be larger than the state of Connecticut this year

❝ Scientists have predicted the dead zone, or area with little to no oxygen in the northern Gulf of Mexico, will become larger than the state of Connecticut by the end of July. The dead zone will cover about 6,620 square miles of the bottom of the continental shelf off Louisiana and Texas. While there are more than 500 dead zones around the world, the northern Gulf of Mexico dead zone is the second largest human-caused coastal hypoxic area in the world.

Although this forecast has been the average size for the past 31 years, it is more than three times larger than the goal outlined by the Hypoxia Action Plan, which is about 1,930 square miles. Efforts to reduce the nitrate loading have not yet demonstrated success at the watershed scale…

❝ Nutrients from the Mississippi River watershed, particularly nitrogen and phosphorus, fertilize the Gulf of Mexico’s surface waters to create excessive amounts of algae. When the algae decomposes in the deepest parts of the ocean, it leads to oxygen distress and can even kill organisms in the Gulf of Mexico’s richest waters. These low oxygen conditions threaten living resources including fish, shrimp and crabs, which humans depend upon for food and industry…

Why worry about dead sea life when you still can drill for oil, eh?