DBS invests in upskilling as AI alters contract roles

DBS Group has clarified that AI could reduce the need to renew approximately 4,000 temporary and contract roles over the next three years across its 19 markets as these positions phase out upon project completion. The bank reaffirmed that the reduction would occur through natural attrition and that permanent employees would not be impacted.

Speaking to the Press Trust of India, outgoing CEO Piyush Gupta initially stated that AI would take on more tasks traditionally performed by human employees, leading to a decrease in the contract and temporary workforce. However, in response to media queries, a DBS spokesperson emphasised that the reduction is not a layoff but a shift resulting from the completion of temporary projects.

DBS currently employs between 8,000 and 9,000 contract and temporary staff, while its total workforce stands at around 41,000.

Gupta is set to be succeeded by Deputy CEO Tan Su Shan on 28 March 2025.

READ MORE: DBS to cut 4,000 contract and temporary roles as AI adoption grows

DBS also reaffirmed its commitment to upskilling and reskilling employees, stating that it has identified around 13,000 employees for training on future-ready skills, including AI and data analytics. To date, over 10,000 employees have commenced their learning roadmaps, reinforcing the bank’s focus on equipping its workforce for the evolving digital landscape.