Artificial Intelligence Popularization DBS Group plans to reduce its contracts and temporary employees by about 4,000

With the popularity of artificial intelligence technology, DBS plans to cut approximately 4,000 contracts and temporary employees in the next three years.

When asked by Bloomberg, DBS President Piyush Gupta confirmed reports from the Press Trust of India that the group will further adopt artificial intelligence technology in its business and will reduce its workforce.

Gao Bode, who is about to step down from his position as president, revealed that fixed employees will not be affected. DBS currently employs about 41,000 employees. Chen Shushan, currently the group's vice president, will take over from Gao Bode on March 28.

Banks around the world will cut as much as 200,000 jobs in the next three to five years, as artificial intelligence replaces human resources. The chief tech communications officer interviewed noted that they expected to cut their net workforce by an average of 3%.

However, many companies emphasize that technology will not cause employees to be replaced, but will change their roles. For example, Teresa Heitsenrether, who heads the AI ​​project at JPMorgan Chase, said in November last year that job opportunities have increased since banks adopted generative AI.

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