AI could displace banking jobs in Singapore

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AI could displace banking jobs in Singapore
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According to a new study, 40 financial services job roles in Singapore are set to be highly impacted by automation, advanced analytics, and AI:

This is an excerpt from a story delivered exclusively to Business Insider Intelligence Fintech Briefing subscribers.Forty financial services job roles in Singapore are set to be highly impacted — either through role convergence or displacement — by robotic process automation, advanced analytics, and AI,

To ensure success in training staff, banks need to identify which skills employees will need in the future. The study highlights data interpretation and analysis, as well as advanced digital acumen as key skills necessary for employees working with analytics and AI. As machines take over repetitive tasks, employees can focus on leveraging technology and using their expertise to create innovative products and solutions. The relationship between humans and machines can be complementary: AI can enhance staff productivity while improving employee satisfaction, as automation can allow staff to engage in more meaningful and creative activities.

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