SINGAPORE - AI Replaces 4,000 Jobs
Singapore’s biggest bank, DBS, says it expects to cut about 4,000 roles over the next three years as artificial intelligence (AI) takes on more work currently done by humans.
“Over the next three years, we envisage that AI could reduce the need to renew about 4,000 temporary/contract staff across our 19 markets working on specific projects,” the DBS spokesperson said.
DBS currently has between 8,000 and 9,000 temporary and contract workers. The bank employs a total of around 41,000 people.
The ongoing proliferation of AI technology has put its benefits and risks under the spotlight, with the International Monetary Fund (IMF) saying in 2024 that it is set to affect nearly 40% of all jobs worldwide.
The governor of the Bank of England, Andrew Bailey, told the BBC last year that AI will not be a “mass destroyer of jobs” and human workers will learn to work with new technologies.
-www.bbc.com, 25 February 2025
Arno's Commentary
Singapore is one of the richest, freest, and securest states in the world. Founded as a British colony in 1819, it joined the Malaysian Federation in 1963 but was ousted two years later and became independent.
Whenever and wherever research has been made regarding quality of life, security, life expectancy, infant mortality, etc., Singapore—along with New Zealand and Australia—is usually in the top ten of a list dominated by European states.
74.2% are ethnic Chinese. Religiously, it is divided into 30% Buddhist, 18.9% Christian, 15.5% Muslim.
Life expectancy is one of the highest in the world at 86.7 years, with infant mortality one of the lowest in the world, 1.5. GDP per capital is $127,500.
When reading excerpts from the article by the BBC, Singaporeans are the last to worry about job loss, since their high-tech industry is a world leader. Thus, the some 4,000 workers will relatively quickly find a different place in the dynamic workforce, adding even more prosperity to this city-state of about 6 million inhabitants.
We take notice of the religious composition, which in most countries would cause controversy. Not so in Singapore; rather, it adds prosperity. Under “crime levels,” NationMaster.com lists Singapore as 12.72, the USA as 55.84. When it comes to gun crimes, Singapore has 0.5, and the USA 88.8.
Here we have a factual presentation that religious diversity is not a contributing reason for a higher crime rate.
Christianity has flourished in present day Singapore, from 9.9% in 1980 to 18.9% in 2020. Yet, we must add that the non-religious also increased from 13.1% in 1980 to 20% in 2020.
Nevertheless, whether in prosperity like Singapore, or in poverty in the poorest country, South Sudan, the Church will continue to aim heavenwards—her eternally destined place: “For our conversation is in heaven; from whence also we look for the Saviour, the Lord Jesus Christ” (Philippians 3:20). Hebrews 13:14 adds: “For here have we no continuing city, but we seek one to come.”
Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.
