SBI's AI Adoption: Securing Jobs Amid Technological Transformation

SBI asserts AI adoption won't impact jobs, attributing reduced staff to retirements. Deputy Managing Director Nitin Chugh emphasizes skill adaptation for future job roles. The bank continues to invest in data science and digital marketing, ensuring responsible AI use, while employing a hybrid cloud strategy.

The State Bank of India (SBI) is confident that its increasing use of artificial intelligence (AI) tools will not affect employment levels, according to a senior official. Nitin Chugh, SBI's Deputy Managing Director, clarified that recent staff reductions were due to retirements rather than technology adoption.

Chugh highlighted that technological initiatives are set to transform job nature rather than pose a risk to employment. He emphasized the importance of adapting to new technologies and ensured that SBI's investment in AI would foster new roles, particularly in data science and digital marketing.

Speaking at a Microsoft event, Chugh shared SBI's cautious approach towards AI, focusing on responsible deployment and hybrid cloud use. This initiative aligns with India's authentication needs, aiming to leverage agentic AI securely and ethically within the banking framework.

(With inputs from agencies.)