Bank of Singapore wants to lay off 4 thousand employees due to artificial intelligence

^{Photo: Reuters}
DBS Group Holdings Ltd., one of Southeast Asia's largest banks, will cut 4,000 jobs over three years as artificial intelligence technology becomes increasingly capable of performing tasks previously performed by humans.

The bank's chief executive officer, Piyush Gupta, confirmed the plan to the Press Trust of India. He said temporary and contract workers would be laid off, while permanent staff would not be affected.

DBS Bank has a workforce of about 41,000.

Bloomberg Intelligence reports that in the next 3-5 years, banks around the world could cut up to 200,000 jobs due to the introduction of artificial intelligence. At the same time, according to Therese Heizenreiter, who is responsible for artificial intelligence at JPMorgan Chase, so far the introduction of this technology has only increased the number of bank staff.

Earlier, it was reported that South Korean cities are increasingly paying attention to training specialists in the field of artificial intelligence, and specialized training centers and new training programs are being opened in various parts of the country.

A study published by the International Monetary Fund ahead of the World Economic Forum in Davos in January 2024 noted that artificial intelligence technologies could affect 60 percent of jobs in advanced countries.
^{Photo: Reuters}
DBS Group Holdings Ltd., one of Southeast Asia's largest banks, will cut 4,000 jobs over three years as artificial intelligence technology becomes increasingly capable of performing tasks previously performed by humans.

The bank's chief executive officer, Piyush Gupta, confirmed the plan to the Press Trust of India. He said temporary and contract workers would be laid off, while permanent staff would not be affected.

DBS Bank has a workforce of about 41,000.

Bloomberg Intelligence reports that in the next 3-5 years, banks around the world could cut up to 200,000 jobs due to the introduction of artificial intelligence. At the same time, according to Therese Heizenreiter, who is responsible for artificial intelligence at JPMorgan Chase, so far the introduction of this technology has only increased the number of bank staff.

Earlier, it was reported that South Korean cities are increasingly paying attention to training specialists in the field of artificial intelligence, and specialized training centers and new training programs are being opened in various parts of the country.

A study published by the International Monetary Fund ahead of the World Economic Forum in Davos in January 2024 noted that artificial intelligence technologies could affect 60 percent of jobs in advanced countries. Follow “Zamin” news on “Telegram”