AI to replace 4,000 jobs in Southeast Asia’s largest bank DBS

SINGAPORE: Southeast Asia’s largest bank DBS said that 4,000 jobs could be cut in the next three years and be replaced by artificial intelligence as the technology becomes more advanced.

“Over the next three years, we envisage that AI could reduce the need to renew about 4,000 temporary/contract staff across our 19 markets working on specific projects,” a spokesperson from the Singapore bank told AFP on Tuesday, confirming earlier reports.