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3 July 20241 minute read

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.

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