Mumbai Mumbai: This bank with Singapore headquarters is expected to reduce the number of employees in the next three years by 10 percent, because this major banking sector company is using artificial intelligence (AI) in its functioning, The bank's Chief Executive Officer Piyush Gupta said on Monday.

The bank is using AI for internal job dynamics as well as managing fraud, scam and risk. He said that it is using AI model to add portfolio management as well as customers.

Gupta said that AI is different and is different from any other technology adopted in the past, he said that he has to struggle to create new jobs for the first time in his tenure of more than 15 years at the top of the bank of Singapore. .

In his address at an event organized by the top IT industry body NASSCOM, Gupta said that in 2016-17, the bank had identified 1,600 jobs which were unnecessary due to increasing automation. However, the management along with the employees worked to create an infection route and find alternative roles for them within the organization. About 1200 of them were included in other roles, while others retired or quit the job. He told, “Therefore, I never had to get anyone out of job.” However, he said that there has been a decrease in the number of employees in the next three years because “AI is different”.

He explained that AI is not a device you use, but “AI can really make yourself and manipulate”. He said that the bank has also added 1,000 people to AI. Gupta said that there has been an increase in the number of business and customers as the bank now has 20 million customers, while the number was 6 million. DBS Bank has more than 6,500 employees in India. Later, giving clarification, the bank said: “In the next three years, the shortage of 4,000 employees will mainly include contract and temporary employees. The reduction in the number of employees will also come from natural decrease, because temporary years will be temporary in the coming years And contract roles will end. ” Banks have been cautious about being completely dependent on AI in terms of reaching customers because it includes aspects like confusion, but said that it has done the first experiment to reach the customers directly and it is widespread by the end of the year Is planning to make.

The DBS Group, which has completed three decades of its operations in India, recorded 22.3 billion Singapore dollars in 2024 and a net profit of 11.4 billion Singapore dollars.