Don't see AI affect work; Recent dip in staff base not due to technology: SBI Deputy Managing Director

Mumbai, April 3 (PTI) State Bank of India see no impact on the increasing acceptance of artificial intelligence instruments on the workfront, a senior official said on Thursday. Nitin Chugh, a deputy managing director at the country’s largest lender, said the reduction of overall staff over the past few years has not been due to the acceptance of banking by the bank, but due to other issues such as scheduled retirement. “… We see no risk there,” Chugh, who heads the digital banking and transformation at SBI, answered reporters during an event here to a specific question about the risks of work while the bank continues with its technology initiatives. The remarks of the senior SBI official come within weeks of the CEO of Singapore, Piyush Gupta, suggesting that AI affects a tenth of work with the lender. Chugh said the overall staff came down slightly over the past few years and added that it has nothing to do with technology. Chugh, who is trying to attribute the reduction of employee number to retirement, said the total basis is determined by the intake of the outflow of people from the system, and underlines that SBI is still renting the same number of probation officers each year. The nature of jobs will undergo a transformation, Chugh said, adding that someone who has the right skills to use the technical input in daily work will be better than the one who does not. The bank doubles its team of data scientists, has installed a whole team that will focus on digital marketing and will also rent for other technology-related roles, he said. Chugh, hosted by the Global Tech major Microsoft, said the bank is experimenting with the deployment of Ai-Medical Pilots and also intends to represent Agentic AI for both the leading and rear staff in the future. The ultimate goal is to have agentic AI for the customers, he said, and refused to give a timeline for it. However, it seemed that he indicated that India’s insistence on the verification of transactions would not affect the arrival of agentic AI, as technology has the ability to build the necessary handrail. SBI has a framework for the responsible and ethical use of AI, he said, adding that it did £ 1.4 Lakh Crore loans last year using technology inputs. The bank is careful about what is going on on public cloud and what is being done privately, Chugh said, pointing out that it used a hybrid approach where the data set remains on its private cloud and the computer is done using Microsoft’s Azure offer. Microsoft’s country’s head of the bank, financial services and insurance Vertical, Sonia Kulkarni, said a number of entities have benefited from accepting AI instruments in the recent past. Catch all the business news, corporate news, news reports and latest news updates on Live Mint. Download the Mint News app to get daily market updates. Business Newscompaniesnewsdont see AI has an impact on jobs; Recent dip in staff base not due to technology: SBI Deputy Managing Director less less