Singapore’s largest lender, DBS Group Holdings, is preparing for a major workforce transformation as artificial intelligence begins to reshape traditional banking roles, according to a Bloomberg report.

Chief Executive Tan Su Shan said the bank will no longer hire for positions likely to be automated and is instead retraining existing employees to take on new responsibilities.

Roles such as bank tellers are being redefined to focus on customer relationships and digital servicing, including managing video teller machines.

DBS has identified around 13,000 employees for upskilling in AI and data capabilities, with more than 10,000 already trained, according to earlier company statements.

The bank, which employs over 40,000 people, also plans to reduce about 4,000 contract and temporary roles over the next three years as part of its broader digital transformation.

Singapore’s financial sector is seeing similar moves across its three major banks, which are retraining a combined 35,000 workers to adapt to automation and AI-driven changes.

Deputy chairman of the Monetary Authority of Singapore, Chee Hong Tat, recently said the effort aims to help employees transition to adjacent roles through reskilling programs.

Tan, who became CEO in March, has said the shift requires staff to “embrace change” as automation expands across the bank.

Her comments echo those of global banking leaders such as JPMorgan Chase’s Jamie Dimon, who has called AI one of the most transformative forces in the industry.

DBS’ strategy reflects a broader shift among major lenders, focusing on adapting existing talent to new digital functions instead of carrying out large-scale layoffs.

Featured image: Edited by Fintech News Singapore, based on image by DBS