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Goldman Sachs' 11,000 Software Engineers

U.S. banks are evolving software companies that offer banking services. These are points to note:

  1. Goldman Sachs employs about  11,000 software engineers - 30% of its total workforce. It uses these engineers to create services for clients.
  2. JP Morgan Chase is creating a crypto as I reported. Most leading U.S. banks are doing same.
  3. Most U.S. banks like Citi and Bank of America have tech accelerators to help them innovate

If you look at these elements, one thing is clear: banking is nothing but a specialized area of technology business. A bank needs technology to run and transform its business.  Simply, every business is largely a technology business. If you know nothing about technology, take action and invest in your future because all works are converging into technology.