The Big Story: DBS to reduce 4,000 contract and temp jobs in 3 years. Is AI taking over roles?

DBS Group Holdings expects to reduce its contract and temporary staff by around 4,000 over the next three years as AI increasingly takes on roles carried out by human beings. Elsewhere, global banks will cut as many as 200,000 jobs in the next three to five years as AI encroaches on tasks currently carried out by human workers, said a Bloomberg Intelligence (BI) report in January.  Still, many firms have stressed that the shift will result in roles being changed by technology, rather than replaced altogether.  But roles in the banking sector are set to be affected by the rise of AI? What AI trends can we expect to see in the next few years?On The Big Story, Hongbin Jeong speaks with Professor Boh Wai Fong, Vice President (Lifelong Learning & Alumni Engagement) and President’s Chair in Information Systems at Nanyang Technological University’s Nanyang Business School.See omnystudio.com/listener for privacy information.