Singapore banks embrace AI amid employee job fears
The tech is shaking up finance, as lenders seek to balance efficiency gains with the urgency of reskilling their workforce
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[SINGAPORE] Artificial intelligence (AI) is no longer a distant prospect in banking. It is reshaping the sector, from call centres to analytics to compliance.
Singapore lenders are betting big on the new technology to secure an edge, but a critical challenge remains: ensuring that their staff are not left behind in an AI-driven future.
It is no surprise that employees are uneasy. A Bloomberg Intelligence report in January forecast that global banks could cut as many as 200,000 jobs in the next three to five years, as AI encroaches on tasks currently carried out by humans.
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