What human fears have already happened, Wall Street robots replaced 497 traders

On May 1, Beijing time, according to foreign media reports, many Wall Street traders are worried that their positions may be replaced by machines in the future. But in a department of the Goldman Sachs Group, this situation actually happened long ago.

Replace the trader from 500 to 3 robots at Goldman Sachs

Goldman Sachs president David Solomon said at a global conference at the Macon Institute in Beverly Hills, Calif., "On stock trading, we have 500 people making stocks 15 to 20 years ago, and now we have three people."

Solomon said that the introduction of new technologies in the trading business can serve customers more efficiently, but it also brings new risks. For Goldman Sachs, new technology has changed the composition of employees, with 9,000 engineers and more employees focused on regulation.

Goldman Sachs "invested in machine learning, and based on history, how the market will operate in huge amounts of money," Solomon said. This makes speed "more important than capital."

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