SINGAPORE URGES FINANCIAL FIRMS TO USE AI TO CREATE BETTER JOBS

Singapore's banks and financial firms should use artificial intelligence to create better jobs and train workers for higher-value roles, ​not just cut costs, Deputy Prime Minister Gan Kim Yong ‌said on Wednesday.

Gan's comments come a day after Standard Chartered said it would cut more than 7,000 jobs over four years as it steps up AI adoption. ​HSBC, CEO Georges Elhedery said on Wednesday that generative AI would "destroy certain ​jobs" and "create new jobs", while urging staff to embrace the ⁠change.