Automation is coming to the financial services industry, according to Edelman CEO Richard Edelman.

Financial services is going to go through a wave of automation, Edelman said atYahoo Finances All Market Summit Thursday in New York City. Twenty-five percent of financial services jobs will be eliminated.

Edelman said automations threat to jobs applies to both white collar and blue collar jobs. This is not simply truck drivers, he said. Its happening in retail stores and back offices.

Richard Edelman, President and CEO of the public relations company Edelman, attends a conference at the Cannes Lions International Festival of Creativity, in Cannes, France, June 19, 2018. REUTERS/Eric Gaillard

According to a recent Edelman survey, 4 out of 5 respondents globally think theyll be economically worse off in 10 years from now.

[People are] afraid theyll lose their job to machines, he added.

Edelman, a global communications and public relations company, was founded in 1952, by Daniel Edelman, and maintains 60 offices across the globe.

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Scott Gamm is a reporter at Yahoo Finance. Follow him on Twitter @ScottGamm.

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Edelman CEO: 25% of financial services jobs will be eliminated by automation - Yahoo Finance