According to Goldman Sachs executive Kevin Sneader, they will supervise AI agents from their first day. That leaves a big question over what happens to today’s middle managers, Bloomberg News reported.
Sneader leads the bank’s business in Asia Pacific outside Japan. He spoke recently at the Milken Institute Asia Summit in Singapore. He said young employees now manage agents as soon as they join and must make the most of what he called a virtual army.
A Different Path to Management
Earlier generations often worked for years before they led anyone. Sneader said finding new roles for today’s managers will be a “generational challenge” for many sectors. He added that the task of managing work no longer sits with middle managers. It now sits with front-line staff. Nobody yet knows, he said, what will happen to that group.
His comments point to a break from the traditional banking path. Junior staff have long spent years on analysis and preparatory work before moving up to manage others.
Roles Reshaped, Not Just Cut
Sneader and the other panellists, who discussed AI and finance, did not dwell on mass job losses. They focused on how AI would reshape roles.
Even so, thousands of jobs across the financial industry are set to change as the available roles shift. At Goldman, president John Waldron is seen as the likely next leader. He has described the firm’s operations as a human assembly line that is ready for automation.
The Pyramid Under Pressure
Sandra Peterson, an operating partner at investment firm Clayton, Dubilier & Rice, said the traditional career ladder may not last. Professional service firms once worked like pyramids, she said. Staff joined at the bottom and moved up level by level if they survived. With AI handling much of the grunt work, she said, it is unclear whether firms will need as many entry-level hires.
Chia Der Jiun, managing director of the Monetary Authority of Singapore, saw the same shift. He said operations staff will need to become managers and supervisors of AI agents. Banks will also need fewer fresh graduates for analysis and preparatory work, he said.
Singapore is already preparing, Chia said. It is training bank staff in AI skills and working with universities so graduates are ready for the new landscape.
An Entrepreneurial Upside
Sneader also pointed to a brighter side for young people. He said there has never been a better time to start something, as new businesses now need fewer resources. In his view, many people spend too much time worrying about the old world and overlook that opportunity.
