ATMs didn't kill bank Teller jobs, but the iPhone did
Summary
The piece argues that automation doesn't inherently reduce jobs: ATMs cut task costs but were complemented by more tellers, while the iPhone-driven mobile banking paradigm made branches largely irrelevant and reduced teller headcount. It argues that true productivity gains from AI will come from replacing old paradigms with new workflows and fully automated firms, not from slotting AI into existing tasks.