Mon Feb 24 07:32:07 UTC 2025: **DBS Bank CEO Warns of 4,000 Job Losses Due to AI**
**Mumbai, India –** The Chief Executive Officer of DBS Bank, Piyush Gupta, issued a stark warning at the NASSCOM Technology and Leadership Summit 2025, predicting that approximately 4,000 employees – or 10% of the company’s workforce – could lose their jobs within the next three to four years due to the impact of artificial intelligence (AI).
Gupta emphasized that this is a significant departure from previous technological transitions, stating that he has never before had to lay off employees on this scale. While acknowledging the potential for AI to create new jobs in fields like cybersecurity, he highlighted the difficulty of retraining displaced workers, particularly those in traditional operational and clerical roles. The CEO expressed concern that the number of jobs being created by AI is currently outpaced by the number being lost, a situation he described as unprecedented in his 15-year tenure. He cautioned against overly optimistic predictions about AI’s impact on employment, contrasting a “utopian” view with a more “dystopian” reality reflecting the challenges faced in reskilling and redeploying affected employees.
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