If you think the human factor is rapidly disappearing from the workplace, you may be surprised to know that Skynet has arrived and even C-3PO and R2-D2 are being left behind.

Nowhere is this change more apparent than in the nation's banking system.   

Automation, robots and artificial intelligence is on the rise. At the forefront of this change is the nation's banking system. One of the reasons I know this is because my sister, Cassie, is in the banking industry. No, she is not in the corner office or hanging out in the executive suites.

Since 1965, she has worked as a teller and other front office jobs in her bank's branch offices.

She knows the business from soup to nuts and regularly interfaces with her bank's retail

"Fortunately, I'm fairly senior, otherwise, I would have been phased out a long, long time ago," she says, "Tellers and practically any other jobs performed by humans today will be phased out in this business."

What is driving this change is the opportunity for the nation's banking system to reduce costs and at the same time (hopefully) improve the customer experience. Although robots and automation have long been a factor in the nation's factories and even in areas such as space exploration and other dangerous or difficult environments, the promise of more advances in intelligent robots and artificial intelligence has not kept pace with expectations — until recently.

Breakthroughs in information processing and digital sensors, among other technologies, have vastly improved the capabilities and future potential of intelligent robots. That's not to say that you can expect robots in human form greeting you at your local bank door anytime soon.

The frontline benefits thus far have been in automating processes where human error is high due to high volumes of repetitive transactions.

Speed, accuracy and the efficient handling of large volumes in areas like the processing of thousands of checks and ATM transactions on a daily basis is where robots and automation comes into its own. As time goes by, experts say that banking jobs that could be most susceptible to this wave of change are tellers, loan officers, mortgage brokers, insurance claims and underwriters as well as claims adjusters, bookkeepers, tax preparers and accounting clerks.

"Knowing bank culture as I do," says my sister, "makes me believe that some functions, like loaning money to customers, for example, will remain in the human domain."

That may be so but replacing humans with robots, even in the front office has already started. At the flagship center of one of the Japan's largest banks, a customer service humanoid robot was introduced in April. The robot, developed by a French company, speaks 19 languages, employs various gestures, and analyzes facial expressions and behavior. It can and does deliver appropriate responses to typical client questions that a human receptionist would field.

In the U.S., two robots were introduced to local branches of Sterling Bank & Trust in the Los Angeles area. They are test models undergoing "training" as greeters. They also amuse customers by dancing, showing off some martial art moves and handing out banker's business cards to the delight of the bank's customers. In areas such as wealth management, investors can already opt to invest in robo-portfolios where software programs devise and invest money for reduced fees.

For Generation X and Millennials, who already do much of their banking via computer or mobile device, the age of robots may seem a logical and overdue development. For those of us who are still balancing our check books by hand, however, the era of robots in banking may be a bit of a jolt.

Bill Schmick is registered as an investment adviser representative with Berkshire Money Management. Bill’s forecasts and opinions are purely his own. None of the information presented here should be construed as an endorsement of BMM or a solicitation to become a client of BMM. Direct inquires to Bill at 1-888-232-6072 (toll free) or email him at Bill@afewdollarsmore.com.

The stock market has climbed 10 percent in the last three weeks from its February lows. That is a substantial gain, over a year's worth of historical performance for the S&P 500 index. And as such, it's time for a break.

That doesn't mean a sell-off will happen, but it never hurts to prepare one's mind set for a bout of profit-taking. The worst that can happen is that I'm wrong. If it doesn't occur, you can remain relieved (and possibly pleasantly surprised) that your portfolio is recovering the losses it incurred over the first two months of the year.

About the only investors that would be disgruntled by this turn of events, would be those who disregarded my advice and sold in a panic last month. For those in that category, I'm sure you are praying that markets do correct, so that you can get back in.

You may have noticed that while I expect a pullback, I'm not advising you to sell. That's because I don't see anything more than a small decline from, say, the 2,000 level to 1,940 or so on the S&P 500 Index. That's pocket change.

The reason I am hoping for a pause here is that, in the short-term, the markets are overbought and extended. They need to consolidate in order to climb higher. Tentatively, the next upside target on the S&P is between 2,050 and 2,100; if we do achieve that, than we may actually see the markets turn positive by the end of this month.  Wouldn't that be something?

Of course, the rebound in oil has much to do with the gains in the market. The two are still bound together at the hip. My expectations that the agreement between the Saudis and Russians to freeze production would at least put a floor under oil proved accurate. It has also triggered a "short-squeeze" among global traders. A short squeeze occurs when short sellers, in this case those who correctly predicted and profited from the oil price decline over the last year by selling oil short, cover their positions and in the process bid up the price of this commodity.

The recent economic data is also contributing to the more positive mood on Wall Street.

This week's non-farm payroll number saw a jump in employment to 242,000 jobs last month versus 190,000 expected. Economic statistics across the board appear to be improving, which has put a dent in the bear's recession case. For those who follow my columns, that should come as no surprise. I do not see a recession and have discounted this concern repeatedly.

But it has been politics that has mesmerized the Street this week. We had a sizable rally on Monday, in anticipation of the Super Tuesday results. I mentioned last week that a clearer picture of who would be the front runners in both parties would reduce uncertainty and rally markets. Hillary Clinton appears to be the "anointed one" among Democrats, while the Republicans are pulling out all the stops to destroy Trump's momentum.

The travesty of the latest GOP debate is not worth a comment. Thursday's televised anti-Trump speech by Mitt Romney, the ghost of elections past, was just as pitiful. This obvious GOP/Wall Street effort to sink Trump's potential presidential nomination could backfire badly.

If primary voters perceive the establishment is ganging up on their hero there could be an even greater rush into Trump's corner. It appears the Republican Party is dead-set on blowing itself up and giving the election to the Democrats. So be it.

Bill Schmick is registered as an investment adviser representative with Berkshire Money Management. Bill’s forecasts and opinions are purely his own. None of the information presented here should be construed as an endorsement of BMM or a solicitation to become a client of BMM. Direct inquires to Bill at 1-888-232-6072 (toll free) or email him at Bill@afewdollarsmore.com.

Normally, Wall Street loves GOP presidential candidates. Historically, Republican presidents have been good for business, tend to cut taxes, and slow the rate of government spending. So why does Donald Trump give them the willies?

For starters, the investment community worries that Trump is an unpredictable wild card. Remember, that investors can accommodate the good or the bad, as long as the future is articulated in clear terms. For example, Hillary Clinton, the Democratic front-runner, is going after predatory pricing in the biotech sector. That's bad for biotech so Wall Street sells or shorts biotech stocks until that risk factor is resolved. Another politician says we need a stronger defense capability. So investors buy aerospace stocks on that policy.

What investors can't accept is uncertainty. As such, some of Donald Trump's statements have been so outrageous, politically incorrect and economically dysfunctional that Wall Street does not know which way to turn. He cannot be pigeon-holed ideologically.

At times, he appears pro-business only to contradict that assumption by slamming the financial sector on other issues. His statements tend to worry those who believe he could lead the country into a new era of isolation. Attacks on China, Mexico and all things Muslim are just some of his agenda that have given Wall Street a fit.

Trump's strong populist message seems to resonate with those who are not part of this country's one percent. It is truly remarkable that a billionaire, real estate developer who resides in the city of one percenters, could dominate among voters in cities that are economically-challenged and where incomes are the lowest. Although the two are poles apart politically, the populist appeal of Donald Trump and Bernie Sanders is similar.

They appeal to a silent majority of voters who have suddenly found their voice. After decades of hopelessness, declining voter participation, and almost universal disgust for both Wall Street and our government, these two men have harnessed that sullen anger and the results have been both unexpected and unpredictable.

It also helps that neither candidate is beholden to either the traditional corridors of political influence or Wall Street money (Super PACS) that has become the basis for our political system. And what Wall Street cannot control, it abhors. Unlike Mrs. Clinton, a traditional (and predicable), slightly, left of center Democrat, Wall Street and Washington is threatened by Bernie Sanders, a self-proclaimed socialist and Donald Trump, an unorthodox deal-maker with little use for ideology or the status quo.

As the election draws closer, Trump's standing in the polls and wins among GOP delegates increases, the Wall Street/Washington cabal is pulling out all the stops to prevent Trump's ascendency. Mitt Romney, the GOP's quintessential "company man" and Washington insider, has now joined the fray in earnest. In a speech on Thursday in Utah, the erstwhile Republican candidate for president called Trump a "fraud and a phony" while exhorting Republicans to vote for anyone but the Donald.

Let me be clear, I am an independent so I'm not picking sides in these primaries. As for the individual policies of the Democratic and GOP candidates, there are some things I agree with and some I don't. But what I do approve of is the populist movement that Trump and Sanders have triggered in this country. Make no mistake, you may not agree or like Trump's racist statements or Bernie's arguments for wealth distribution, but a lot of Americans do. That is clear in the polls.

And that's part of what a democracy is all about. Granted, I wish every American could be just like me, rejecting prejudice of either religion or race, advocating the end of political and Wall Street influence, addressing the income inequality gap, etc., etc. but I am realistic enough to understand that our political system has always made room for every view and opinion. In a populist election, the best and worst of us come to the forefront.

Bill Schmick is registered as an investment adviser representative with Berkshire Money Management. Bill’s forecasts and opinions are purely his own. None of the information presented here should be construed as an endorsement of BMM or a solicitation to become a client of BMM. Direct inquires to Bill at 1-888-232-6072 (toll free) or email him at Bill@afewdollarsmore.com.