The “race to the bottom” in job cuts in the AI ​​sector has already begun

Bendigo Bank’s board is the latest to take advantage of AI tools and sharpen its firing pencil.

Unions are overwhelmed by the resistance to the inevitable wave of job cuts sweeping across all sectors of the economy and must vigorously condemn the AI ​​productivity boost.

The Financial Services Union responded to Bendigo Bank’s move on Thursday, calling it “a dramatic and dangerous escalation in the fight to protect Australian jobs from destruction by AI.”

But banks are at the forefront of expanding the use of artificial intelligence to increase productivity and reduce costs, and the union movement is powerless to put the genie back in the bottle.

Technology companies were the first in…