DBS Bank is the largest bank of Singapore and has announced plans to replace 6,000 job opportunities with artificial ielligence; Because it believes artificial ielligence can work better than human resources.
One of the biggest concerns about artificial ielligence is to replace it with humans and lose millions of job opportunities in various industries. Artificial ielligence replaceme fever has also reached the banking industry, and Singapore’s largest bank was to eliminate at least 6,000 job stations in favor of artificial ielligence.
Artificial Ielligence is a threat to job opportunities in the banking industry
According to the Independe Magazine, Piosh Gupta, executive director of the Singapore DBS Bank, announced Monday that the bank would replace 6,000 or 5 perce of its troops with artificial ielligence. The process will also be completed in the next 5 years.
Of course, the chief executive added that DBS Bank creates at least a thousand artificial ielligence job opportunities. Push Gepta is one of the first executives in the banking industry to suggest the possibility of eliminating artificial ielligence jobs. In a rece ierview with Reuters, he said this was the first time in the past five years to create jobs.
The DBS Bank is currely the largest bank of Singapore and the largest Southeast Asian lender, with between 2 and 6,000 temporary employees. One of the senior executives of the bank, however, said that official and permane employees would not be affected by these dismissals and can maiain their jobs.
Bloomberg Magazine has earlier said in a report that World Banks are expected to reduce 4,000 job stations over the next 2 to 5 years; Because artificial ielligence can perform human resources well.
The Bank’s chief executive added that the bank has been working on artificial ielligence for more than a decade and has used more than 5 artificial ielligence models to date.
