Market Chatter: Singapore Deputy PM Urges Banks, Financial Firms to Use AI for Job Creation

MT Newswires05-21

Singapore's Deputy Prime Minister Gan Kim Yong has urged the city-state's banks and financial firms to adopt artificial intelligence to create jobs and train employees, rather than just for cutting costs, according to a Reuters report on Wednesday.

The deputy PM's comments come in light of Standard Chartered's plans to cut more than 7,000 jobs in the next four years, the report added.

Speaking at an event in Singapore, Gan stressed the usage of deploying AI to create better roles and a safe working environment, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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