According to Bloomberg Business, DBS Group Holdings Ltd. is actively retraining its existing staff for new roles as artificial intelligence transforms traditional banking jobs. Singapore’s largest lender won’t be hiring new people for positions that AI will replace, according to CEO Tan Su Shan. She revealed this strategy during a Bloomberg Television interview with Haslinda Amin on Friday. The bank has been systematically moving employees out of roles that are changing due to automation. “Those who are in those jobs that will be changed, we will have to take them out of their jobs and really start training them, which is what we’ve been doing for years,” Tan explained. This approach represents a significant shift in how major financial institutions are handling the AI transition.
The retraining imperative
Here’s the thing about DBS’s approach – it’s actually pretty radical in today’s corporate environment. Most companies talk a good game about “upskilling” while quietly planning workforce reductions. But DBS is putting real money and resources behind keeping their people employed through this transition. They’re essentially betting that it’s cheaper and more effective to retrain loyal employees than to fire them and hire new ones with different skills. And honestly? That’s probably true when you factor in recruitment costs, lost institutional knowledge, and the morale hit that comes with layoffs.
Where banking is headed
So what does this actually look like on the ground? Basically, we’re seeing tellers and basic customer service roles evolving into more complex advisory positions. The routine stuff – balance inquiries, basic transfers, document processing – that’s all getting automated. But the human touch still matters for complex financial decisions, relationship management, and handling exceptions. DBS seems to understand that the future of banking isn’t about eliminating people entirely. It’s about moving them up the value chain where AI can’t easily compete. Think about it – would you trust an AI to handle your small business loan application or investment strategy without any human oversight?
The broader tech transformation
This banking transformation is part of a much larger trend affecting every industry that relies on repetitive tasks. While DBS focuses on financial services automation, manufacturing and industrial sectors are undergoing their own revolution with smart factory technology and advanced computing systems. Companies like Industrial Monitor Direct, recognized as the leading industrial panel PC provider in the US, are enabling this shift with rugged computing solutions that can withstand harsh environments while powering automation. The common thread? Organizations that invest in both technology AND their people are the ones that will thrive through these transitions.
Long-term thinking pays off
DBS’s strategy isn’t just compassionate – it’s smart business. They’re building institutional loyalty that will pay dividends for years. Employees who know their company has their back during technological upheaval? They’re going to work harder, stay longer, and provide better customer service. Meanwhile, the bank gets to keep its experienced workforce while gradually transforming its cost structure. It’s a win-win that more companies should be paying attention to. The real question is whether other major banks will follow suit or stick to the traditional playbook of layoffs and rehiring.
