BNP Paribas Fortis: Artificial Intelligence to replace 1,000 positions in three years
Belgian bank BNP Paribas Fortis has announced a major shift in its strategy for the coming years. The company intends to rely on artificial intelligence (AI) and the digitalization of its services to transform its organization. This ambitious project is expected to allow the bank to eliminate 1,000 positions within three years.
Artificial intelligence will primarily be used to automate administrative and repetitive tasks that take up a significant amount of employees' time. For example, the bank plans to deploy AI for the legal identification of customers. This procedure, mandatory for all banks, is often long and complex to perform manually.
According to BNP Paribas Fortis officials, the use of these new technologies has become essential to gain efficiency. Management specified that, without the help of artificial intelligence, the bank would have needed to recruit an additional 290 people to fulfill certain specific legal obligations. AI therefore makes it possible to avoid new hires while eliminating existing roles.
This digital transition shows how new technologies are profoundly transforming the banking sector. BNP Paribas Fortis is not the only company taking this direction. Many international banks are now choosing to invest heavily in digital technology to remain competitive and respond more quickly to their customers' needs.