In an era when AI threatens to displace workers worldwide, Singapore is writing a different story—one where technology and human talent grow together rather than compete.

Kelvin Chiang recently demonstrated something remarkable to Singapore's banking regulator. His team had developed five AI models that could complete in ten minutes what previously took private bankers an entire day. But rather than using this as a reason to cut jobs, Oversea-Chinese Banking Corp. is using it as an opportunity to elevate their workforce to new heights.

This approach reflects Singapore's groundbreaking national strategy: the country's three largest banks—DBS Group Holdings, OCBC, and United Overseas Bank—are committed to retraining all 35,000 of their domestic staff over the next two years. It's an ambitious effort that stands in sharp contrast to the widespread layoffs seen at financial institutions in the US and Europe.

"The government is essentially aware that we need to do something as a country," explains Violet Chung, a senior partner at McKinsey & Co. This proactive stance is already yielding impressive results. Workers are finding that AI isn't replacing them but rather freeing them to focus on what humans do best: building relationships and providing personalized service.

David, a 39-year-old wealth manager, exemplifies this transformation. Tasks that once consumed an hour now take just 10-12 minutes, giving him significantly more face time with clients. According to Bain & Co. senior partner Mohan Jayaraman, relationship managers will be able to serve 60-70 customers instead of 50, deepening connections while expanding their earning potential.

Singapore's approach involves multiple support systems working in harmony. The National Jobs Council partners with the Institute of Banking and Finance to help workers transition into redesigned roles. The institute even offers banks up to 90 percent salary support to reskill mid-career staff, ensuring no one is left behind in the transition.

The results speak volumes about this human-centered approach to innovation. DBS employees now use an internal AI assistant handling over one million prompts monthly, with customer service tools reducing call times by 20 percent. UOB has equipped all employees with Microsoft Copilot and deployed over 300 AI applications. OCBC and UOB have committed to zero AI-related job cuts, while DBS pledges to protect all permanent staff positions.

This collaborative model between government regulators, banks, and workers represents something rare in today's fast-paced tech landscape: a thoughtful, inclusive approach to transformation. When Chiang presented his AI safeguards to the Monetary Authority of Singapore, he found enthusiastic support from the regulator's engineers. "They were quite happy," he recalls.

Bloomberg Intelligence forecasts that DBS alone could boost pretax profit by up to $1.2 billion through AI efficiency gains—demonstrating that investing in people and technology together creates better outcomes than choosing one over the other.

Singapore's banking sector is proving that the future of work doesn't have to mean fewer workers. Instead, it can mean better-equipped, more capable professionals who blend human insight with technological power. As other nations grapple with AI disruption, Singapore's model offers an inspiring blueprint: embrace change, invest in people, and build a future where everyone can thrive.