Bendigo Bank's AI Push: Job Cuts Loom, Unions Worry
Sydney News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Bendigo Banks AI-driven cost-cutting initiative with Infosys and Genpact may lead to job losses, following the trend of tech upgrades in banking. The bank, along with other major players, has cut thousands of jobs recently. Unions are concerned about the impact on Australian jobs, while Bendigo remains silent on exact numbers. The move targets risk management after past fines. Despite strong quarterly results, the AI integration could result in more job losses across businesses, with proposals like robot taxes and wealth funds being discussed to mitigate the impact.
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