ATMs didn't kill bank Teller jobs, but the iPhone did
2 days ago
- #employment
- #technology
- #banking
- ATMs were predicted to replace bank tellers in the 1970s, but instead, the number of tellers increased as their roles evolved into relationship banking.
- The iPhone and mobile banking apps, not ATMs, led to a significant decline in bank teller jobs by making physical branches and tellers largely unnecessary.
- Technological advancements like ATMs automate tasks within existing paradigms, while innovations like the iPhone create new paradigms that can make entire jobs obsolete.
- The real impact of technology on jobs comes from paradigm shifts, not just task automation, as seen with the iPhone's effect on banking.
- AI's potential to displace jobs will likely come from creating new workflows and structures, not just replacing human tasks within existing systems.