Tag Archives: DBS

DBS, the largest bank in Singapore, has announced plans to cut approximately 4,000 jobs over the next three years as it increases the adoption of artificial intelligence (AI) technologies. The move signals a significant shift in the banking sector, where automation and AI are set to take over tasks previously handled by human employees.

DBS Group Holdings Limited, Singapore's largest bank, faced a setback in its fourth-quarter profit, falling short of analyst predictions, amidst pressures on margins. The notable decline in profitability has led to significant adjustments in Chief Executive Officer Piyush Gupta's compensation, attributed to the digital banking disruptions experienced last year.