SEPT.| OCT.|2023
WISCONSIN BANKERS ASSOCIATION
FOUNDED 1892
Wisconsin Banks Receive Significant Tax Parity Thank you, banking advocates! By Rose Oswald Poels Bankers have been advocating for tax parity for decades with state and federal elected
officials due to the unfair tax advantage that two of the industry’s primary competitors — credit unions and the
Farm Credit System — receive from policymakers. During that same time, the Wisconsin Bankers Association (WBA) has (continued on p. 18)
By Hannah Flanders When asked if artificial intelligence (AI) would replace the workforce, experts agreed that most jobs require a human connection. However, some economists assert that automation by platforms like ChatGPT — an AI program with capabilities to understand and generate human-like text — may lead to displacement in some areas. Although human resources and talent acquisition-related positions continue to be
AI Reshapes the Workforce Organizations use AI to recruit, retain talent among the fastest growing user role on LinkedIn, according to World Economic Forum’s 2023 ‘Future of Jobs’ report, many agree that AI will only augment the abilities of human
professionals, rather than replace them entirely. “If the staff are not robots, the process shouldn’t be either,” says Renée Peterson, vice president – talent acquisition and devel-
opment manager at Horicon Bank. “Being a community bank, it is important that we don’t lose the community feel.” While the World Economic Forum predicts that AI will help create nearly 70 million jobs in the next five years, another 83 million are expected to
be eliminated. Human resources professionals and bankers in Wisconsin, however, should not let this staggering number deter them from embracing AI’s potential. Oliver Buechse, owner of Advancing Digital, explains that incorporating AI into an organization allows employers to empower their team. “AI allows individuals to do. By providing the opportunity for those that are interested to explore AI and its capabilities in their job function, employers will not only (continued on p. 14)
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MIDWEST ECONOMIC FORECAST FORUM JANUARY TBD | VIRTUAL BANK EXECUTIVES CONFERENCE
FEBRUARY 7–9 | WISCONSIN DELLS Visit www.wisbank.com/education for more details.
UMS
Madison, WI 53718
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4721 South Biltmore Lane
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Wisconsin Bankers Association