Employers should be barred from using artificial intelligence to scrap jobs and be required to reskill affected workers to ensure they are redeployed, the finance sector’s union is demanding in the face of fears that a third of the industry’s workforce could lose their jobs due to AI.

A Finance Sector Union report into banking, insurance, superannuation and financial planning’s use of AI, released on Tuesday, found 53 per cent of 2200 surveyed workers reported AI was used in their workplace but 61 per cent received no training in it and 67 per cent were worried about their jobs.