As a result of its projection that artificial intelligence ( AI ) will increasingly take on roles performed by humans, DBS Group announced on Monday ( Feb 24 ) that it plans to cut 4, 000 of its contract and temporary staff.
In response to a Bloomberg inquiry, DBS confirmed a Press Trust of India information agency review, which stated the bank would reduce its workplace as it expands its AI company, according to CEO Piyush Gupta.
In response to CNA’s inquiries, DBS stated that the labor reduction” may result from normal attrition as heat and contract roles roll off over the next few years.”
DBS now has about 8, 000 to 9, 000 commitment and temporary workers, Gupta , told Bloomberg.  ,
Tan Su Shan will take over as Gupta’s leader of Southeast Asia’s largest banks on March 28.
He stated that the labor reduction is expected to occur over the next three years, adding that everlasting staff does not suffer.