When ATM’s first appeared on our streets it was a wonderful convenience: now you could get cash at any time of the day or night as long as the machines were in working order. The banks got to replace tellers with tireless computers who didn’t care about belonging to a union, and were there for the bank and their customers 24/7.
The brilliance of these cash dispensers was that when a customer made a deposit, or withdrew funds, or made a transfer the customer was doing the data entry for the bank! To add insult to injury, later banks would charge fees to the customer for making the ATM transactions! Banks didn’t have to pay a human teller and customers were working for the bank and paying them for the privilege.
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The Round Table
Workers Displaced by Robotics
Posted: April 19, 2012 in CommentaryTags: ATM, David George, Jeremy Rifkin, occupy-wall-street, politics, Rifkin, Robots. Hi-Tech, unemployment
The brilliance of these cash dispensers was that when a customer made a deposit, or withdrew funds, or made a transfer the customer was doing the data entry for the bank! To add insult to injury, later banks would charge fees to the customer for making the ATM transactions! Banks didn’t have to pay a human teller and customers were working for the bank and paying them for the privilege.
(more…)