European social partners in the banking sector adopt joint declaration on the employment aspects of AI

On 14 May 2024, the European social partners in the banking sector issued a joint declaration on the employment aspects of AI. This makes the financial services sector a pioneer. According to the social partners' declaration, innovation and employees should be equally at the centre of attention. The core theses of the declaration include:

• The definition of AI is based on the AI Regulation and defines AI systems as independent and able to perform tasks and make decisions without humans. They’re also self-learning and have access to large amounts of data they can learn from.
• AI should be used responsibly, with humans retaining the final decision-making authority.
• Regular joint risk assessments should ensure health and safety in the workplace.
• Workforces should be continuously trained, and existing individual and collective digital rights should continue to exist even when AI is used.
• The social partners want to continuously monitor and evaluate implementation at all levels and are in favour of social dialogue to make work humane as digitalisation progresses.

Read the AGV-Banken press release.