Media has learned of Singapore's largest bank's plans to massively replace employees with AI

The management of the largest bank in Singapore DBS announced plans to cut 4 thousand employees and replace them with artificial intelligence (AI). This is reported on February 25 by the TV channel "BBC".

"The largest bank in Singapore said it plans to cut 4 thousand positions over the next three years, as artificial intelligence takes over more and more of the work that is now done by people," the material says.

As assured in the bank, the reduction of labor force will occur due to natural attrition - will be removed temporary and contract positions, while permanent employees will remain in place. According to the bank's CEO Piyush Gupta, the lending institution also plans to create about a thousand AI-related jobs.

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In December last year, it was reported that it has become popular in China to buy robotic animals with built-in artificial intelligence. It was noted that AI simulators are a large variety, their advantage is that they do not require special care and daily walks. Also, companion robots are capable of learning.