DBS to 'shrink workforce' by 4,000 in 3 years due to AI adoption: CEO Piyush Gupta

DBS Group’s CEO Piyush Gupta announced that the bank expects a 10 per cent reduction in its workforce over the next three years due to deeper AI integration. Gupta highlighted the significant impact of AI on job creation, noting a unique challenge in repurposing employees. The bank has cautiously embraced AI across various operations, including customer outreach and credit underwriting.