Markets live updates: NAB to cut up to 2,500 job by mid
National Australia Bank (NAB) has announced plans to cut 6% of its workforce over the next 18 months. While the bank does not explicitly link the cuts to AI, the CEO's recent comments suggest a strategic shift toward automation and technological integration.
Why it matters
This reflects a broader corporate trend where traditional industries are balancing workforce reductions with the adoption of artificial intelligence.
NAB cuts are not about AI. But they're not not about AI either D By Daniel Ziffer
Are the job cuts announced by NAB related to AI replacing humans??
NAB is making sweeping cuts to its staff, letting go of 6 per cent of its workforce in the next 18 months.
In a statement announcing the news , the words AI or artificial intelligence are not noted.
But it's worth considering broader statements CEO Andrew Irvine has made in recent months about the pace and path of the technology as it wriggles through corporate systems and business structures.
He spoke to a function for customers in Melbourne in August. Here are some of the key things he said about AI:
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