Job Crisis in Bank: There is going to be a huge crisis on 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. By removing them, artificial intelligence will be used. This has been revealed by a report by Bloomberg Intelligence. Bloomberg released this report on Thursday based on a survey of Chief Information Officers and Chief Technology Officers of banks. This shows that due to AI, there will be a three percent reduction in the workforce of banks. It has been said in this report that the job roles of those working in back office, middle office and operations will be in danger.
The role of humans in customer service of banks will reduce.
According to Bloomberg report, the role of humans in customer service of banks will reduce. 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 great extent. Jobs will be in danger in routine work and repetitive tasks. This will not completely eliminate the role of humans but will take the workforce in the direction of complete transformation. The biggest thing is that the entire banking industry will have to be transformed according to AI. Because after the adoption of AI by rival banks, the challenge will remain for them to promote AI as much as possible.
There will be a compulsion for banks to adopt it because on one hand it will reduce their operation cost, on the other hand it will also provide relief from many types of human problems. For this reason, there is a race among banks all over 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 these are amazing AI tools. Many types of experiments are being done in this regard. However, due to ethical requirements, this pace is still a little slow in Indian banking.
AI training round will be conducted
It is not that the work will be done by laying off two lakh people just to get the work of banks done through AI tools. The remaining staff in his place will also have to undergo a long period of training. Because one will have to learn the use of complex AI tools and also learn the art of using them in different ways. Especially in the public sector banks of India, it will be a big task to prepare the staff who are accustomed to manual work for this. Just preparing the staff will not help. Other services are also connected to the bank. The government will also have to accept the challenge of making them AI smart. The biggest thing is that the huge customer base of banking in the village will also have to be prepared to get the work done by chatting with the machine. However, after the statement given by Microsoft CEO Satya Nadella recently, there are some hopes. He has said that he will train five lakh people in Artificial Intelligence in rural India.
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