Dhaka, Feb. 25 -- Singapore's largest bank, DBS, has announced plans to cut 4,000 jobs over the next three years as artificial intelligence (AI) takes over tasks currently performed by humans.

A DBS spokesperson told the BBC that the reduction in workforce would occur through natural attrition as temporary and contract roles phase out over the coming years. However, permanent employees are not expected to be affected by the job cuts.

Outgoing Chief Executive Piyush Gupta stated that the bank also plans to create approximately 1,000 new AI-related positions, making DBS one of the first major banks to provide specific details on how AI will impact its workforce and operations.

DBS did not specify how many of the job cuts would take place...