The Singapore government wants the country’s banks and financial companies to rethink their use of artificial intelligence.
Instead of just using AI to cut jobs, these organizations should deploy the technology to create better jobs and train employees for better roles, according to the Deputy Prime Minister Gan Kim YoungReuters I mentioned Wednesday (May 20).
“For Singapore, the answer cannot be to hold back change,” Gan said at the conference. DBS Leaders’ dialogue It happenedaccording to the report. “If we slow the adoption of AI, we will weaken our competitiveness and ultimately hurt workers more, not less.”
His comments came a day later Standard CharteredThe bank, which counts Singapore as one of its main centers, said it would cut about 8,000 jobs Jobs By the end of the decade with increasing use of artificial intelligence.
“This is not about cutting costs, it is about replacing low-value human capital, in some cases, with the financial capital and venture capital that we put in,” CEO Bill Winters He said in statements that he would try that later Walk again After the online outrage.
As Bloomberg News reported, some of that anger came from Singapore’s president Halima Yacobwho criticized the CEO’s terminology in A Share FacebookHe described it as “disturbing” to talk about workers in such clinical terms.
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Gan said Singapore’s development as a financial center will depend on the safe adoption of AI at the enterprise level, while ensuring that it creates good jobs, according to a Reuters report.
He said, according to the report: “When companies apply artificial intelligence, they should not only ask: How much cost can we save?” “They should also ask: What new roles can we create? How can existing workers be trained in them…”
CEO of DBS Group Tan Su Shan He said Singapore’s small size could become an asset, with AI acting as a “huge multiplier”, according to the report.
“Making AI small means our limited workforce can now do much more than we could before,” Tan said, according to the report, adding that companies still have to take employees and customers into account because “humans matter.”
In others Artificial Intelligence Newsnew research shows that technology is becoming less obvious as its usefulness increases.
“The closest analogy may not be the smartphone or the social media boom, but the rise Mobile banking“, PYMNTS reported Tuesday.
It happened gradually, as people moved from checking balances online to deposits to peer-to-peer transfers.
“Today’s consumers are not building Trust in artificial intelligence “They are fascinated by technology. They build trust because technology increasingly removes friction from ordinary life,” the report said.
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