The largest Singapore Bank DBS intends to reduce employment by about four thousand employees. This is due to the fact that artificial intelligence takes over more and more duties performed by people so far – informs the BBC station portal.
Bank DBS predicts that in the next three years And will take over the duties performed by four thousand temporary and contract employees. As the bank spokesman emphasized, cited by the BBC station, the reduction will result from “natural rotation” caused by the ending of ongoing projects.
– We anticipate that in the next three years artificial intelligence may reduce the need to renew contracts in about four thousand temporary and contract employees working on projects on our 19 markets – added the institution spokesman.
The bank does not reveal how many people will lose their jobs in Singapore. It is known, however, that Reduction of full -time jobs will not cover employees permanently.
The outgoing director of the bank, Piyush Gupta, at the same time claims that thanks to AI a thousand new jobs related to this technology will be created. DBS currently employs from 8,000 up to 9,000 temporary and contract employees.
Bank DBS focuses on AI
Last year, Gupta admitted that DBD has been working on the implementation of AI for over a decade. – We are currently implementing over 800 artificial intelligence models and we expect that the measured economic impact of these activities will exceed a billion Singapore dollars in 2025 (USD 750 billion) – said the director, quoted by the BBC.
According to the analysis of the International Monetary Fund, AI will affect almost 40 percent. all jobs in the world. According to the director of the Kristalin Georgieva fund, most of the scripts assume that artificial intelligence will worsen social inequalities.
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