What happened
DBS Group ceased hiring for roles susceptible to AI displacement, instead reassigning and retraining existing staff for new positions. The bank is investing in training programmes focused on data analysis and advisory services, shifting its workforce towards higher-value roles requiring human judgement and empathy, such as relationship management. This initiative, following prior AI model deployments, aims to enhance efficiency, reduce costs, and manage potential workforce reductions via natural attrition.
Why it matters
This strategic shift introduces a significant internal reskilling burden, creating a dependency on the efficacy of internal training programmes to cultivate new capabilities in data analysis and advisory services. The cessation of external hiring for AI-susceptible roles reduces control over the influx of specific skill sets, placing the burden of workforce transformation and adaptation squarely on existing staff and the Human Resources department. This increases the oversight burden for ensuring adequate skill development and role transition.
