The Commonwealth Bank of Australia (CBA) has announced the termination of 45 positions within its call centres following the introduction of an AI chatbot designed to handle customer inquiries.
The bank has communicated to the impacted employees that consultations are ongoing regarding the job cuts, according to Australian Broadcasting Corporation (ABC).
CBA announced it is investing more than A$2bn ($1.30bn) in its operations, including frontline teams and technology services, which may result in “some roles and work can change,” reported Reuters.
The Finance Sector Union (FSU) has expressed discontent with the decision, advocating for the retraining of affected workers to transition into new roles that utilise AI technology.
The CBA stated that it has recruited more than 9,000 individuals in the past year and currently has approximately 670 vacancies within its retail banking services and frontline teams.
CBA spokesperson was quoted by ABC as saying: “To meet the changing needs of our customers, like many organisations, we review the skills we need and how we're organised to deliver the best customer experiences and outcomes. That means some roles and work can change
“Our priority is to explore opportunities for redeployment and to support affected employees with care, dignity and respect throughout the process.”
Last week, the CBA informed the FSU about the job reductions, marking a significant moment as it is reportedly the first instance where a bank has attributed job cuts directly to AI implementation.
The bank has dismissed claims that these job losses are linked to offshoring, asserting that it plans to provide reskilling opportunities for those affected.
A report from CSIRO indicates that 68% of Australian businesses have adopted AI technologies, leading to a notable shift in customer service roles, with many being replaced by chatbots and virtual assistants.
“CBA cuts jobs amid AI chatbot rollout” was originally created and published by Retail Banker International, a GlobalData owned brand.
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