Sileoni (Fabi): more and more technology banks, but training is needed. Workers over 50 are at risk with artificial intelligence – MilanoFinanza News

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More digital, more suffering. In the bank. Do you want to see how artificial intelligence could turn into a boomerang in the banking sector? The equation of more technology and better credit quality doesn’t seem to be working very well. This means that the human factor cannot be replaced by algorithms too easily. This is what the general secretary of Fabi Lando Maria Sileoni thinks, who addressed this question on Wednesday the 10th, the second day of work of the 128th National Council of the main trade union in the Italian banking sector. “As bank agency directors or first-level managers have less autonomy in lending, paradoxically, bank bad debts have increased,” Sileoni told an audience of more than 2,000 people. “In fact, we know very well that 200 companies in Italy produced 80% of bank bad debts just two years ago. So it is clear that there has been a so-called boomerang effect with a decrease in the autonomy of directors and more weight given to algorithms.”

Increasingly, digital and technological banks

The fact is that credit institutions are increasingly using new technologies. “Unfortunately, banks – Sileoni explained – are developing more and more cooperation with start-ups and fintechs. The average age of bank workers and artificial intelligence is an alarming combination that can be handled with thorough training. I’m actually moving forward when we have to have a discussion in companies because the first problem that will arise will be that 55-year-olds will be harder to relocate and with artificial intelligence they will be one of the groups most at risk. For this reason, training using the national contract tool will be crucial, but the banks are not even thinking about this problem.”

Workers over 50 are at risk with artificial intelligence. Union-level solutions

“Then there are all the consequences that are associated with the loss of positions, the consequence associated with degradation and outsourcing. From there, a selection could arise within the banks, which will certainly marginalize a significant component of workers over 50 years of age. This is going to be a problem if we don’t deal with it at the union level. This is not only true for banks, but also for other categories. Then there is another aspect: the average age of bank workers today is quite high, so we will have to face a problem if artificial intelligence starts in a particular way: it is a problem that we will have to face in the short term, not in the long term,” Sileoni added.

The council ends on Friday the 12th

The work of the Fabi Council began on Tuesday and will end on Friday with the Secretary General’s final response. Thursday 11th morning we start with a discussion between representatives of Fabi and Federcasse, president Augusto Dell’Erba and representative Matteo Spanò (after yesterday’s meeting with Ilaria Dalla Riva and Stefano Bottino from Abi). Then there will be a debate on youth work with Nicola Porro, Giuseppe Cruciani and Hoara Borselli. At the end of the morning, Francesca Fagnani will interview the “beast” Sileoni. (All rights reserved)

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