Global Banking Job Crisis: In the next 3 to 5 years, 2 lakh people will lose their jobs in the world’s banks and the reason for this will be Artificial Intelligence. Know who has given this worrying report.
Job Crisis in Bank: There is going to be a huge crisis of employment in the banking sector. In the next three to five years, two lakh people will lose their jobs in the world’s banks. They will be removed and jobs will be taken up by Artificial Intelligence. This has been revealed by a report of Bloomberg Intelligence. Bloomberg released this report on Thursday based on a survey of the Chief Information Officers and Chief Technology Officers of banks. This shows that due to AI, there will be a three percent reduction in the workforce of banks. This report says that the job roles of those working in the back office, middle office and operations will be in danger.
The role of humans will be reduced in the customer service of banks
According to a Bloomberg report, the role of humans in customer service of banks will be reduced. Because AI-powered bots will start handling customers. The work of handling Know Your Customer (KYC) will also go to AI to a large extent. Jobs will be at risk in routine work and repetitive tasks. This will not completely eliminate the role of humans but will take the workforce towards complete transformation. The biggest thing is that the entire banking industry will have to transform according to AI. Because after the adoption of AI by rival banks, it will remain a challenge for them to promote AI as much as possible.
Banks will also be compelled to adopt it because on one hand it will reduce their operation cost, while on the other hand it will also provide relief in many types of human problems. Due to this, there is a competition among banks around the world to adopt it. India’s banking industry is also not untouched by this. Every day you must be seeing different types of smart services in the apps of different banks. All this is the wonder of AI tools. Many types of experiments are being done regarding this. However, due to ethical demands, this pace is still a bit slow in Indian banking.
A phase of AI training will have to be conducted
It is not that just by laying off two lakh people, the work of getting the banks done through AI tools will be done. A long phase of training will have to be conducted for the remaining staff as well. Because learning the use of complex AI tools and the art of using them in different ways will also have to be learned. Especially in the government banks of India, preparing the staff who are used to manual work for this will be a big task. Just preparing the staff will not work. Other services are also connected to the bank. The government will have to accept the challenge of making them AI smart as well. The biggest thing is that the large customer base of banking in the villages will also have to be prepared to get the work done by chatting with the machine. However, some hopes have been raised after the statement given by Microsoft CEO Satya Nadella recently. He has said that he will train five lakh people in rural India in Artificial Intelligence.
