CEP is probably not creating jobs in financial services
March 3, 2009
I guess that a few sites have picked up this article about how maybe Complex Event Processing (CEP) is creating jobs in financial services.
Not true, AFAIK.
What’s creating jobs is the trendless volatility in the stock market. In this environment, the best way to make money in the short term is with automated day trading. So automated trading is on the rise again, and with that comes programmer jobs.
CEP systems are tools that programmers use to build programs. They are not “smart software” as the article says. They are just programmer tools.
If CEP tools were not around, the same automated trading systems would be built with the tools that existed prior to CEP.
So the rise of automated trading is good news for vendors of CEP software. But other than the few jobs created at these vendors, I don’t see how CEP is creating any jobs.
March 3, 2009 at 5:42 pm
Hans,
I have gotten tired of debunking all of these myths. Glad to see that you are covering for me on this.
-m
March 4, 2009 at 8:37 am
The original (recruiter’s !) article justifies its statement “Jobs to be had in complex event processing” by the comment “A recent study into banks’ IT spending patterns … suggested that while budgets as a whole were likely to shrink by 5%, CEP investment remains on an upward trajectory.” — so they infer (not unreasonably) banks will need some more CEP skills over other IT skills. But there is no inference that there will be a net gain in new jobs created…