Singapore's biggest bank, DBS, says it expects to cut about 4,000 roles over the next three years as artificial intelligence (AI) takes on more work currently done by humans. The move will affect temporary and contract staff, a bank spokesperson said, with the reduction in the workforce coming from "natural attrition" as projects are completed.

The International Monetary Fund (IMF) has warned that AI is likely to affect nearly 40% of all jobs worldwide.

"Over the next three years, we envisage that AI could reduce the need to renew about 4,000 temporary/contract staff across our 19 markets working on specific projects," a spokesperson from the Singapore bank told AFP on Tuesday,

Singapore's biggest bank says it expects to cut 4,000 roles over the next three years as artificial intelligence (AI) takes on more work currently done by humans."The reduction in workforce will come from natural attrition as temporary and contract roles roll off over the next few years,

A Bloomberg Intelligence report last month said global banks were expected to cut as many as 200,000 jobs in the next three to five years as AI encroached on tasks currently carried out by humans.

The bank clarified that permanent staff members will not be impacted by these changes, which are part of a broader strategy to streamline operations through technology. While some jobs will be eliminated,

Singapore's DBS bank expects to cut 4,000 jobs over the next three years. The bank said it expects the positive economic impact of AI to