Singapore Urges Banks to Use AI for Job Creation

Singapore's government is encouraging its banking and financial sectors to adopt a new perspective on artificial intelligence. Instead of focusing solely on AI for cost-cutting and job displacement, Deputy Prime Minister Gan Kim Yong advocates for its strategic deployment to enhance existing roles and develop new, higher-skilled positions. This initiative aims to leverage AI as a tool for workforce development and upskilling, ensuring that technological advancements contribute positively to employment and the overall economy within the financial industry.