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28-Jul-2017 02:08 by 2 Comments

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He would not reveal how many employees will be replaced with robots but said it would be a 'big number.' 'We have to find new ways of employing people and maybe people need to find new ways of spending their time,' he said.

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It's one of the biggest banks in the world, but it seems that tens of thousands of jobs at Deutsche Bank are at risk of being taken – by robots.CEO John Cryan warned today that a 'big number' of people will lose their jobs at the firm as it automates to embrace its 'revolutionary spirit.'The Frankfurt, Germany-based company employs 100,000 people globally, but it's unknown how many will be laid off and replaced by machines or when the overhaul will occur.A 'big number' of the company's 100,000 employees will be replaced by machines Deutsche Bank - one of the world's largest financial institutions - is gearing up to replace a 'big number' of its 100,000 employees with robots.'The truthful answer is we won’t need as many people,' CEO John Cryan said.Rather than helping customers with traditional banking needs, she's tasked with working with employees and assisting internal IT support Swedbank has Nina, a female-voiced assistant that allows customers to simply message her with their questions in order to find answers and identify the financial services best suited for their needs.AI might be part of the cure to the Swedish banking customer service issue - a recent study by market researcher Gf K said these chatbots could help close the gap between what bank customers hope to receive from their financial institutions and what they actually get.Aida is a chatbot with vast amounts of individual client data, meaning she - Aida was designed to sound like a woman because of research suggesting customers feel more comfortable with female voices - can quickly handle straightforward customer needs.

SEB just rolled out Aida, a customer service virtual assistant meant to handle easy tasks and free up time for real human employees.

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Deutsche Bank - one of the world's largest financial institutions - is gearing up to replace a large chunk of its workforce with robots.

Mr Cryan said that the additional cuts would come through using technology to make processes more efficient.

He said: 'There we've got the most to gain.'We're too manual, which can make you error-prone and it makes you inefficient.'There's a lot of machine learning and mechanisation that we can do.'Mr Cryan added that the proportion of people in front office versus back office was 'out of kilter.'He said: 'Every bank at the moment has a huge and burgeoning department of people who are doing the same stuff.'It's not a source of competitive advantage and you're exposed to making your own mistakes.'He did not, however, mention any specific jobs that were at risk of being taken over by automation.

Nordea Bank has introduced a virtual assistant named Nova - also meant to sounds like a woman - to its life and pensions unit.

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