The Grand Asian Bank replaces 6,000 jobs with artificial intelligence

DBS Bank is the largest bank of Singapore and has announced plans to replace 6,000 job opportunities with artificial intelligence; Because it believes artificial intelligence can work better than human resources.

One of the biggest concerns about artificial intelligence is to replace it with humans and lose millions of job opportunities in various industries. Artificial intelligence replacement fever has also reached the banking industry, and Singapore’s largest bank wants to eliminate at least 6,000 job stations in favor of artificial intelligence.

Artificial Intelligence is a threat to job opportunities in the banking industry

According to the Independent Magazine, Piosh Gupta, executive director of the Singapore DBS Bank, announced Monday that the bank would replace 6,000 or 5 percent of its troops with artificial intelligence. 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 intelligence job opportunities. Push Gepta is one of the first executives in the banking industry to suggest the possibility of eliminating artificial intelligence jobs. In a recent interview with Reuters, he said this was the first time in the past five years to create jobs.

The DBS Bank is currently 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 permanent employees would not be affected by these dismissals and can maintain 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 intelligence can perform human resources well.

The Bank’s chief executive added that the bank has been working on artificial intelligence for more than a decade and has used more than 5 artificial intelligence models to date.