Automate “grunt works”

Wall Street banks such as Goldman Sachs, Barclays, and Moelis are trying to automate “grunt works” inflicted on junior investment workers. Grunt works are tedious and menial tasks, like gathering information to prepare a public information book on a potential client or formatting a PowerPoint presentation. The central purpose of this automation is to stop young graduates from leaving the industry, especially now, since banks are increasingly understaffed. Other reasons include fostering better working conditions for the junior bankers and increasing their efficiency. Although not explicitly stated, I sense that the other implication of automating grunt work could be to reduce operating costs in the long run. Since the cost to operate a machine is lower than the salaries of a worker. Overall, automating grunt work will benefit junior workers in conjunction with the shareholders of the Wall Street banks.?

I will agree that automating the grunt work in the banking sector is definitely a benefit. Not only does it benefit the organization by reducing operating costs, but it is also an advantage for the employees; especially the junior staff (new graduates and interns). I say this because companies like Goldman Sachs are notorious for overworking their staff, and employees have often complained about having an extremely poor work-life balance. Automating the "grunt work" will take off a huge load for these employees and will allow them to contribute to the company in a more meaningful way, also improving their job satisfaction!