Nigeria, Feb. 25 -- Singapore's largest bank, DBS, has announced plans to cut 4,000 temporary and contract roles over the next three years as artificial intelligence (AI) takes over tasks previously performed by human employees.

The bank's outgoing Chief Executive Officer, Piyush Gupta, made the revelation during a recent statement on Monday.

The job reductions will not affect permanent staff, according to a DBS spokesperson, who clarified that the workforce reduction will occur through natural attrition as specific projects conclude. "Over the next three years, we envisage that AI could reduce the need to renew about 4,000 temporary/contract staff across our 19 markets working on specific projects," the spokesperson stated in an email ...