(Bloomberg) — Commonwealth Bank of Australia reversed a decision to cut 45 customer service roles due to new artificial intelligence technology after pressure from the country\u2019s main financial services union.\u00a0 <\/p>\n
The union took CBA to the workplace relations tribunal earlier this month as the company wasn\u2019t being transparent about call volumes, according to a statement Thursday from the Finance Sector Union. The nation\u2019s largest lender had said that the voice bot reduced call volumes by 2,000 a week, when union members said volumes were in fact rising and CBA had to offer staff overtime and direct team leaders to answer calls, the union said. \u00a0 <\/p>\n
CBA\u2019s initial assessment that the roles were not required \u201cdid not adequately consider all relevant business considerations and this error meant the roles were not redundant,\u201d a CBA spokesperson said in a statement. <\/p>\n
\u201cWe have apologized to the employees concerned and acknowledge we should have been more thorough in our assessment of the roles required,\u201d the spokesperson said. Impacted staff are being offered the choice of continuing in their current roles, seeking another position or leaving the firm, the spokesperson added. <\/p>\n
Chief Executive Officer Matt Comyn has been at the forefront of pushing technology in Australia\u2019s banking sector and the firm this month unveiled a partnership with OpenAI to bring advanced AI to its customers and staff. Elsewhere, lenders around the world are grappling with the use of AI and its impact on jobs. <\/p>\n
The union called the decision to rescind the job cuts a \u201cmassive win\u201d for members.\u00a0 <\/p>\n
The Sydney-based bank said it was also reviewing internal processes to improve its approach in the future. The firm employs more than 51,000 staff. \u00a0 <\/p>\n
Separately, rival National Australia Bank Ltd. earlier this week said it\u2019s engaging with the finance sector union after errors were made in paying staff.\u00a0 <\/p>\n