The Impact of AI on Women's Job Loss in Africa Banking Industry - Focus on Kenya

The use of AI in the banking industry has become inevitable and comes with both benefits and negative impacts. One common demerit is the threat of loss of jobs which is considered an impact on labour rights. This issue is particularly critical because it is considered to affect women’s jobs more than men. Already, the number of women in the labour force as compared to men is low. The use of AI may further worsen the situation and increase the statistics of women unemployment since AI use in the banking industry is more commonly used for routine tasks often attributed to female staff. In addition, less women are employed in departments of cyber, fraud detection, and managerial positions where AI and deep technology skill are required. Invariably, women feel more threatened by the use of AI. Research reveals that job losses or job displacement will occur with more rampant use of AI in the banking industry, especially for easily automated jobs. At the same time, jobs will also be created in the technology-skilled areas. Hence, reskilling and upskilling will be necessary for jobs and employment. In light of this, the reform of existing laws and formulation of AI regulatory policies as well as policies on skill and trainings especially for women and more in the tech skill areas to reduce or mitigate the job loss impact of the use of AI are essential.