AI vs jobs: Split verdict from CEOs

Double-Edged Sword India's tech workforce at a crossroads

- AVIK DAS

Global executives are divided on the impact of generative artificial intelligence (GenAI) on jobs. While some feel that the all-pervasive, revolutionary technology is already making employees redundant at various levels, others say AI and automation will not replace human intelligence.

For instance, DBS Group expects its workforce to shrink by 10 per cent, or 4,000 employees, over the next three to four years as the Singaporean bank's operations become more automated and less human-intensive. "This year, my current projection is that in the next three years, we are going to shrink our workforce by 4,000, or 10 per cent," DBS Bank's Chief Executive Officer Piyush Gupta said at a Nasscom event on Monday. While the bank later clarified that those jobs would be temporary, it shows that many operations may not need any human intervention at all.