Financial Analysts

23%

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Comments (14)

Analysis

Will "Financial Analysts" be replaced by AI & Robots?

There is a small chance this occupation will be replaced by robots/AI. This is further validated by our poll, which suggests a 50% chance of automation within the next 2 decades.

Automation Risk Level

No worries

or 23% probability of automation

Projected Growth

12%

by 2024

People Employed

306,200

as of 2018

Median Annual Wage

$85,660

or $41.18 hourly

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How this compares with other jobs: 221 out of 707

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How likely do you think this occupation will be taken over by robots/AI within the next 20 years?

People Employed (US)

Median Annual Wage (US)

Job description

Conduct quantitative analyses of information affecting investment programs of public or private institutions.

SOC Code: 13-2051

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Comments

Edim (Could go either way) says

Depending on the position.
Entry-level it's pretty much just data entry, things that can easily be automated.
On higher levels, it requires decision making, data analysis, and other skills that will be out of any computer's reach for quite some time still.
Overall it's fairly safe from automation as of now. The human brain is still the single best pattern recognition system that we know of and pattern recognition is a large part of Financial Analysis.

Jun 27, 2020 at 08:54 PM

ANG BENG KUAN (Could go either way) says

Computer automation will continue to reform financial services and portfolio analysts sector with the advent of robo advisers and financial screening applications that is able to generate systematic results and interpret such outcome into decision-making. Software applications that could filter and differentiate corporate credits, extract data and keywords in business news across web space, and portfolio simulation engine based on risk return optimization.

Jun 27, 2020 at 03:47 AM

Dunkjoe says

Looking at some of the comments, and understanding the industry, for companies employing manual procedures, yes, any job including financial analysts would be likely to be replaced by automation and AI (Smart Learning bots).

However, the Finance Industry requires analysis in association with human bias and understanding, so the very nature of financial analysts is likely not replicable by automation or AI easily.

Unless, everything is automated. But that would mean a large majority of jobs would be gone in every industry.

Jun 10, 2020 at 05:14 AM

Nick (Highly likely) says

Because its literally just reading back results of formulas. Machine Learning can do the formulas and A.I. can interpret the results

Mar 01, 2020 at 02:41 AM

JTC (Could go either way) says

New products like Qlik Sense and Qlik View automatically generate reports analysts typically do in seconds. (not in hours or days)

The machine learning algorithms already can identify data insights and generate data visualizations based on the information.

Financial Analysts work will shift away from data flattening to asking questions about the data.

In the next decade, rather than the CFO asking questions for the lines of business to bring back information, they can text chat a bot to serve up in the information across the entire enterprise. This has implications on existing organizational hierarchies. I would expect a reduction in growth rate of this industry.

Feb 05, 2020 at 04:00 PM

Uwe says

Entry level positions might be automated, because they involve a lot of data entries which any person with a solid knowledge of Python can automate. However, more advanced positions that require more social, analytical, skills that require good decision making won't be automated soon.

Jan 08, 2020 at 12:40 AM

Duncan (Highly likely) says

It is just repetitive date entry.

Aug 26, 2019 at 07:44 PM

Daniel says

we need to take a hand and work for our pasion

Aug 26, 2019 at 02:29 AM

Nico (Likely) says

Many analysts focus only on data collection, analyses and reporting. This tasks can be automated

Aug 09, 2019 at 03:45 AM

seb (Could go either way) says

robots make terrible financial analysts.

a machine can be fed information, divide it based on rules you've set for it, but it cannot make decisions or influence others because of political and socioeconomic trends.

Aug 28, 2019 at 12:56 AM

Just-some-guy says

I think you have actually proven yourself wrong with your own statement. All 'trends' can be quantified in some way, and socio-political examples have been trends for many decades, centuries even.
Further more, the statement 'rules you've set for it' is an admission of your own ignorance, since it is through
development of artificial intelligence and machine learning that the likelihood of replacement through automation is even a threat to any industry.

Tldr, robots are becoming better financial analysts every single day.

Apr 10, 2020 at 04:59 PM

kim (Likely) says

it's just statistics and analysis.

Jul 09, 2019 at 06:23 PM

Malek Salibi (Small chance) says

Some reporting automation bound to happen but variance analysis, complex coodination between business units and solid business acumen and knowledge still required for successful business partnership of finance in any organization.

Jun 28, 2019 at 06:07 PM

Razvan. (Likely) says

In the company I work for, Financial Analyst positions have been already moved to other location where the salaries are lower. Also, Sales and Cash Flow are now being predicted using Artificial Intelligence

May 14, 2019 at 01:46 PM

Ahmed (Could go either way) says

There are currently some computer applications that can perform portfolio analysis tasks

May 14, 2019 at 12:19 PM

Ath says

Can you give me an example?

Jul 13, 2020 at 04:13 AM

Ed (Small chance) says

It would take relationship skills as well as analytical skill to replace this sort of job

May 08, 2019 at 07:09 AM