UPDATE: A former Commonwealth Bank employee has urgently confronted top executives over job losses attributed to an artificial intelligence chatbot. Kathryn Sullivan, who was among 45 employees laid off in July 2023, raised critical concerns during the bank’s annual general meeting at The Gabba in Brisbane on Wednesday.
During the meeting, Sullivan, who dedicated 25 years to the bank, expressed her frustration after training the “Bumblebee” chatbot only to lose her position. “I just wanted to know what specific measures you have in place now to safeguard current staff from having their roles displaced by AI, and also offshoring,” she said, highlighting the urgent need for transparency.
Commonwealth Bank reported a record profit of $10.1 billion for the year ending June 30, 2023, a figure executives stated could have been even higher with better AI integration. This financial success contrasts sharply with the personal toll on employees like Sullivan, who expected to be redeployed after her work on the chatbot.
Chairman Paul O’Malley acknowledged the bank’s shortcomings in handling the situation, admitting, “We made a mistake. We didn’t adequately consider all the relevant business considerations.” Chief Executive Matt Comyn reinforced the message, stating that while difficult decisions must be made, the bank is committed to developing and retaining employee skills.
Sullivan’s confrontation comes as the bank faces scrutiny over its reliance on offshore workers, particularly in India, where it employs over 6,800 staff, including 3,000 in financial crime prevention. O’Malley defended this strategy, emphasizing the need for 24/7 customer support and the shift in how customers engage with banking services.
As the digital landscape evolves, the bank is not only focusing on offshore capabilities but also investing in local talent through partnerships with Griffith University and the University of South Australia. The establishment of a tech hub in Seattle further illustrates the bank’s commitment to skill development.
The urgent question remains: how will Commonwealth Bank protect its remaining employees from the growing impact of AI and offshore staffing? As this situation develops, stakeholders and employees alike will be watching closely for answers and actions that ensure job security in an increasingly automated industry.
The meeting and Sullivan’s poignant questions underscore a significant moment in the ongoing debate about AI’s role in the workforce. For employees affected by such transitions, the emotional and financial implications are profound, raising critical discussions about the future of work and employee rights in the age of technology.
