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‘Embrace technology or die by a thousand cuts’

Business | Published:

GUERNSEY’S finance industry must embrace technology or ‘die by a thousand cuts’ – with jobs in the ‘direct firing line’ of artificial intelligence and automation.

Former Australian politician Stretch Kontelj said the local finance sector is directly threatened by the technology revolution. (Picture by Steve Sarre, 20613922)

The stark assessment has been delivered to business leaders, along with a call for the island to come together to develop a platform that can deliver future growth.

‘The finance sector, which for so long has been the backbone of private sector employment in the island, is directly threatened by the technology revolution,’ said Stretch Kontelj, a former Australian politician who now lives and works in Guernsey.

‘Lower-skilled, relatively manual finance jobs are in the direct firing line. They are the production line jobs of the defunct agricultural and auto industries of old. It is therefore imperative for Guernsey to embrace the fintech revolution.’

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