Comment Re:Downward spiral (Score 1) 29
All probably true, but this is something akin to clearing out the typing pool. That is, a big business has a handful of people who "do cashflow". They work out how much money needs to be in any one bank account at any given moment. Any spare money gets put to work in some way or other - some of that work is long term, some is short term. The cashflow folks job is to make sure there's as much money being made as possible, but that they can always cover their payments when they're due - so it's a juggling act of moving money around different accounts, moving it into investments of different types and then pulling it out of those investments when they mature, or when the money's needed somewhere (accepting there'll be a financial penalty for pulling out of an investment early).
This is absolutely an area where "AI" can help - most likely some ML and statistical modelling (rather than an LLM). In fairness, JPMorgan are in the process of productising something that's very specialised, quite hard to do (because it's specialised, and because there's no "dev environment" to try it on), and potentially could make businesses a bit of extra money, and save a bit of headcount.
How that means entire businesses can go to 3.5 day weeks I'm not really sure. My guess is humans leave a lot of money in accounts that doesn't need to be there (humans thinking "just in case" and "CYA"), where computers have much less worries on that score. As such, the computers can move more money into investments, and can probably predict the time the money will be required more accurately (ie. again without the fear-factor overhead a human would add). All that means more money for the business, but I'm still not sure how thousands of people would suddenly have more leisure time as a result.