Commonwealth Bank has reversed its plan to cut jobs replaced by artificial intelligence. The bank told the Fair Work Commission it still needs humans to meet the workload.
The decision follows pressure from the Finance Sector Union. The union took the bank to the Commission after it cut 45 call centre roles in July. The bank had used a voicebot system to answer customer calls.
AI and Jobs
CBA admitted the AI system did not reduce calls. Instead, call volumes increased. Managers had to ask staff to work overtime. Team leaders were also moved to phones.
A spokesman said the bank “did not properly consider all business needs” when it cut jobs. He added, “We apologise to staff affected. We are reviewing our processes to avoid this mistake again.”
Matt Comyn, CBA chief executive, said the bank has spoken with staff. They can stay in their jobs or accept voluntary redundancy.
The reversal comes after Commonwealth bank announced record profits last week. Comyn also confirmed new AI investments, including a deal with OpenAI. The voicebot system will stay in use.
Julia Angrisano, national secretary of the FSU, called the move “a win for workers.” She warned that banks are using AI as “a cover for job cuts.”
The union has also criticised CBA for moving jobs offshore to India. Around 700 of the bank’s new IT engineers are working from Bangalore.
Government Role
The reversal comes as the government discussed AI regulation at its Economic Reform Roundtable. The ACTU had argued for a separate AI law. But the government now says it will review existing rules instead.
Sally McManus, ACTU secretary, said unions were not left out. She said talks with business “exceeded expectations.” Tech Council chair Scott Farquhar also spoke on the need for workers and business to work together.
The government says it will update existing regulations to cover AI. McManus said workers must be involved earlier in AI planning. She warned that trust is needed for AI to deliver good results
