Another Reason to Avoid Law School: Five Things We Learned This Week
Skip Law School and What Else We Learned This Week
1) Robots replace lawyers
Software at JPMorgan Chase & Co. is now doing work in seconds that once took lawyers and loan officers 360,000 hours to complete. The program parses commercial-loan agreements, makes fewer mistakes and never takes vacation. That doesn’t mean it’s cheap. The company has 20,000 developers and plans to spend $9.6 billion on tech, or about 9 percent of its projected revenue — double the industry average. The bank also created bots for some customer-service tasks — such as resetting passwords — doing the work of 140 people. It’s all more fodder for the basic income crowd.
2) Oprah realizes you don't need experience to be president
In in interview with Bloomberg Television that aired this week, billionaire Oprah Winfrey was asked whether she would consider running for president. “I never considered the question even a possibility,” she told host David Rubenstein, co-CEO of the Carlyle Group LP. “I thought, ‘Oh, gee. I don’t have the experience. I don’t know enough.’ And now I'm thinking, ‘Oh!’” She said she won’t run.