Operations 4.0 Underway
Deutsche Bank says Operations 4.0 is already underway.
The plan is to Replace 18,000 Jobs With Robots.
Mark Matthews, head of operations for Deutsche's corporate and investment bank, told Financial News that machine learning algorithms "massively increased productivity" and "redistribute capacity."
The London-based news organization said that Deutsche is pushing to "automate large parts of its back-office" via a new strategy called "Operations 4.0," as part of its $6.6 billion savings initiative over the next three years.
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