AI chatbots are increasing banking sector workloads and impacting customers, says union

The Finance Sector Union (FSU) has warned that AI chatbots are not necessarily adding value, reporting that the technology is increasing workloads by not being able to complete the tasks they are assigned.

Editor’s note: This story first appeared on HR Leader’s sister brand, Banking Daily.

In a parliamentary inquiry into AI, the Finance Sector Union (FSU) said that AI assistants are making things harder for workers when they make errors and are “unable to perform the simplest of tasks accurately”.

“The tools are unreliable and inaccurate, so workers must check everything they produce,” the union submission said.

Banks have heavily invested in AI, with some using it for rudimentary tasks like drafting emails, but the union said that rather than saving time, the tools can produce inaccurate, irrelevant, or fabricated content and may include confidential information that internal protocols prohibit from being sent by email.

“Because every AI-generated email must be checked for accuracy, confidentiality and compliance, workers report that completing the task can take longer than drafting the email themselves,” the union said.

The FSU also cited the Commonwealth Bank of Australia’s AI implementation from last year, when it axed 45 customer service staff in favour of an AI chatbot, only to roll the decision back when the AI created additional work.

CBA’s claims of the AI lowering call volumes were false, with FSU members reporting that volumes were increasing, leading to CBA management asking team leaders to pick up the phones and the company offering overtime.

Following major pressure from FSU members and a Fair Work Commission dispute, the CBA decided to roll back the mass termination. Staff are being offered their jobs back or the option to take a voluntary exit payment.

“This is a massive win for workers, proving what can be achieved when members stand together – but let’s be clear, this is no victory lap,” said FSU national secretary Julia Angrisano.

“CBA has been caught out trying to dress up job cuts as innovation. Using AI as a cover for slashing secure jobs is a cynical cost-cutting exercise, and workers know it.”

The FSU is now calling for banks to have consultation meetings with staff before AI is introduced, as the technology is currently “leading to injuries, ranging from increased stress levels to increased customer abuse when the AI does not work, to workers losing their jobs, to AI chatbots that are unable to perform the simplest of tasks accurately”.

It also said that workers were turning off the technology and thus breaching bank rules to improve work, and were also fearful that they would be performance-managed. They also feared being held responsible for inaccurate work generated by AI.

The FSU said that bank engineers and programmers were also struggling.

“Although AI can generate large volumes of code, small errors can have serious consequences, so workers must carefully check all AI-generated code,” its submission said.

“Members report that this review can take longer and be more onerous than developing the code themselves.”

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