Artificial intelligence (AI) is expected to have a big impact on work roles and employment in coming years, according to DBS, Singapore’s biggest bank, which has reportedly been “working on AI for over a decade.”
Some 4,000 roles are expected to be cut over the next three years as AI takes on more work done by humans, a report by the BBC said, citing a bank spokesperson.
“The reduction in workforce will come from natural attrition as temporary and contract roles roll off over the next few years,” a DBS spokesperson was quoted as saying, but permanent staff were not expected to be affected.
Outgoing CEO Piyush Gupta said DBS – which employs around 41,000 people, including 8,000 to 9,000 temporary or contract workers – also expects about 1,000 people will be hired to perform new AI-related jobs.
Read the full report: BBC News.
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