WIDESPREAD JOB SECURITY FEARS
A new survey reveals that 88% of Irish financial service employees are concerned that artificial intelligence could lead to job displacement. The report, conducted by the Financial Services Union (FSU) and think tank TASC, found that only 3% of respondents disagreed with the idea. Alarmingly, 59% say they are less optimistic about AI’s impact on their job security than five years ago.
ETHICAL CONCERNS AROUND AI USAGE
Beyond job loss fears, the study highlights ethical concerns. Around 62% of workers believe AI could introduce bias into decision-making processes. A similar number worry about its use in hiring and firing. More than half (59%) are also uncomfortable with the possibility of AI-powered employee surveillance. Many (57%) think AI could negatively affect customer experience.
EMPLOYEE TRAINING LAGS BEHIND
Despite growing implementation, 43% of workers say they’ve received no training on AI. Most also say there are no known plans for upskilling. The report stresses the need for employers to provide accessible, role-specific AI education to reduce fear and increase readiness.
CALLS FOR FAIR AI DEPLOYMENT
FSU general secretary John O’Connell says concerns are echoed weekly from staff across the sector. He called on stakeholders to ensure AI benefits workers and consumers alike. Molly Newell of TASC emphasized Ireland’s responsibility to lead a fair AI transition—one with collective bargaining, training, and safeguards against bias and surveillance.
UNIONS PUSH FOR ACTION
Progress has started. The FSU secured an agreement with Bank of Ireland to ensure any AI-related employment changes involve collective bargaining. However, broader action is needed. A Boston Consulting Group report from May found just 1 in 4 companies had integrated AI into everyday operations, showing how far the sector still has to go.