Singapore’s largest bank DBS announced that it will dismiss about 4,000 employees in order to use artificial intelligence more active. This corresponds to approximately 9.7 %of the bank’s total workforce.

DBS spokesman said that the layoffs will be gradually and will be provided naturally through the end of discontinuous and contracted situations.

Singapore’s largest bank fired 4,000 employees

DBS CEO Piyush Gupta, who will leave his mission in March 2025, said that new roles that will work integrated with artificial intelligence will be created.

Stating that the bank plans to open 1,000 new business positions, Gupta said DBS has already applied more than 800 artificial intelligence models in 350 different usage areas.

What will be the future effects of artificial intelligence?

The views of artificial intelligence on the changes in the business world vary. With the prestige of 2024, IMF General Manager Kristalina Georgieva predicts that artificial intelligence will affect 40 %of the global workforce and increase inequality.

Andrew Bailey, the President of the England Bank, on the other hand, thinks that artificial intelligence will not be a “mass destructive”, but has a great transformation potential.

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So what do you think about this? Do you think artificial intelligence will really take the workforce of humanity in the future? You can share your intentions with us in the comments section below.