European banks are beginning to cut staff costs by deploying artificial intelligence (AI) tools, with Italian lender BPER Banca becoming one of the first to put hard numbers on the impact.
BPER said on Oct 10 that it plans to reduce its workforce by about 2,000 over the coming years as advances in AI boost output. It will rely on "AI/GenAI-enabled process optimisation and automation" to cut headcount by 10 per cent through 2027 to about 18,500.
The Italian bank joins a growing number of lenders in betting on traditional and generative artificial intelligence to improve efficiency and reduce costs.
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Jail and cane for man who preyed on 3 girls, including sister
A 27-year-old serial sex predator who preyed on three girls, including his younger sister, was sentenced to 16 years in jail and 15 strokes of the cane on March 10.
S'pore small but 'far from powerless' in unpredictable world: Seah Kian Peng
Global disruptions in trade, technology and security will impact Singapore, but the Republic is \"far from powerless\" despite its small size, said Speaker of Parliament Seah Kian Peng on March 10.
US markets trailing the world as the aura of America First fades
Investors have a growing list of reasons to look elsewhere as mood sours in the US
Singapore stocks decline as markets across Asia end mixed
• STI falls 0.4%; losers beat gainers 320 to 195 • Frasers L&C Trust tops STI; Hongkong Land comes in last • Hang Seng sheds 1.9% amid China tariffs on US farm goods
Hawkers must operate stalls themselves to prevent subletting: Koh Poh Koon
Hawker centre stallholders have to operate their stalls personally as a measure to prevent subletting, as this keeps barriers to entry low for small businesses and preserves the authenticity of the hawker culture, said Senior Minister of State for Sustainability and the Environment Koh Poh Koon in Parliament on March 10.
PSG The Best We Faced This Term
Robertson says Liverpool have to improve their off-the-ball work and attack to secure quarter-final spot
IN FULL BLOOM
Here are five ways to experience Japan's sakura season in all its beauty
Swiatek with another quick, commanding win
Defending champion Iga Swiatek crushed Dayana Yastremska 6-0, 6-2 and 2023 winner Elena Rybakina powered past Katie Boulter 6-0, 7-5 to reach the fourth round of Indian Wells on March 9 with displays of dominance.
Coffee shop operator, 76, jailed for pushing man, 80, leading to his death
Both men had quarrelled before aggressor pushed victim, who fell and suffered skull fracture
Man who worked with young people at PA jailed for sexually assaulting teenager
A man who previously worked with young people at the People's Association (PA) has been handed a jail sentence of 10 years and six months for sexually assaulting a then 16-year-old boy.
