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The Economic Times
The Economic Times

Singapore urges financial firms to use AI to create better jobs

Singapore Gan Kim Yong Tan Su Shan

Singapore's banks and financial firms should use ​artificial intelligence to create ​better jobs and train workers for higher-value roles, not ​just cut costs, Deputy Prime Minister Gan Kim Yong said on Wednesday.

Gan's comments come a day after Standard Chartered said it would cut more than 7,000 ‌jobs over four ⁠years ⁠as it steps up AI adoption. HSBC CEO Georges Elhedery said on Wednesday that ​generative AI would "destroy certain jobs" and "create new jobs", while urging staff to embrace ​the change.

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