18000 workers of "robot army" in Deutsche Bank will be replaced

2019-11-26 1780
According to foreign media reports, Deutsche Bank has deployed an artificial intelligence "robot army", which is estimated to replace 18,000 workers by 2022.
According to Russia, Deutsche Bank this year launched a $ 8.3 billion restructuring plan. As part of the plan, Deutsche Bank has laid off 4,000 people and is expected to lay off another 18,000 by 2022.
Mark Matthews, head of corporate and investment banking at Deutsche Bank, said the use of artificial intelligence "maximized" work rates in certain business areas. In an interview with the Financial Times, he said that the use of robots has saved banks “680,000 hours of manual labor” so far. “The bank has used robots to process 5 million transactions in its share banks and The investment bank processed 3.4 million checks. "
Matthews said the total number of employees "will undoubtedly continue to decline. Our model is to reduce costs while improving our operating environment and customer experience."
Deutsche Bank is implementing a new strategy called “Operations 4.0”, which will promote “automation of most of the back office operations”. This is also part of the bank's $ 6.6 billion energy-saving plan over the next three years.

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