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 banks of the world. They will be removed and work will be done by Artificial Intelligence. This has been revealed by a report of Bloomberg Intelligence. Bloomberg has 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 reduction of three percent in the workforce of banks. This report says that the job roles of those working in 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 the Bloomberg report, the role of humans in the customer service of banks will be reduced. Because AI-powered bots will start handling the customers. The work of handling Know Your customer i.e. KYC will also go to AI to a large extent. Jobs will be in danger in routine work and repetitive tasks. It 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 from 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 the demand of ethics, this pace is still a bit slow in indian banking.
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