Fubon Financial plans to reduce 5,000 administrative positions using AI over the next ten years and transfer employees to sales and other departments.

On February 27th, it was reported that Mizuho Financial Group of Japan plans to use artificial intelligence technology to significantly reduce the workload of tasks such as document review and data entry. In the next ten years, they plan to eliminate 5,000 administrative positions, while providing skill retraining to redeploy these employees to sales, analysis, and other business support departments to increase profitability. Due to natural attrition from reduced hiring and employee retirements, Mizuho ultimately plans to reduce administrative staff by up to one third.