A report by KPMG has warned that banking jobs could be threatened as banks increasingly rely on automation and digital technologies to reduce costs and increase efficiency. The survey revealed that 38% of banks plan to automate processes as their main route to profitability, while 37% aim to digitise core operations. However, only 31% of these banks are prioritising staff training and upskilling, highlighting a shift away from workforce development. The changes are expected to be driven by automation, intelligent workflows, and greater use of artificial intelligence. While automation can provide immediate savings, the study warns that ignoring workforce development could create long-term gaps.
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