Economy
Bank Sacks Staff, Replaces Her With AI Tool She Trained
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A 65-year-old former Commonwealth Bank of Australia (CBA) employee says she was left “shell-shocked” after discovering that the artificial intelligence system she helped train ultimately replaced her role.
Kathryn Sullivan, a bank teller who worked with CBA for 25 years, was made redundant in July after completing final tasks that involved scripting and testing responses for the bank’s Bumblebee AI.
“We just feel like we were nothing, we were a number,” Sullivan said. While acknowledging the benefits of AI, she warned against unregulated adoption: “I believe there needs to be some sort of regulation to prevent copyright infringements or replacing humans.”
Initially, CBA did not respond to her inquiries for more than a week. The bank later admitted its AI rollout was premature and offered to reinstate affected workers. Sullivan declined the offer, citing insecurity in the revised role.
A CBA spokesperson conceded that the bank’s first assessment “did not adequately consider all relevant business considerations,” leading to errors in declaring 45 roles redundant.
Despite the controversy, the bank continues to expand its AI strategy. CEO Matt Comyn recently announced a partnership with OpenAI to combat scams, fraud, cyber threats, and financial crime.
The case has fueled fresh debate over AI ethics, job security, and whether safeguards are needed to prevent companies from displacing workers with systems trained by those same employees.
The discussion resonates globally—including in Nigeria—where banks and tech firms are increasingly exploring AI applications in customer service, fraud detection, and financial operations.
The United Kingdom has introduced new restrictions on a chemical commonly used in some gel nail polishes amid concerns over its potential impact on fertility and reproductive health.
The restriction targets trimethylbenzoyl diphenylphosphine oxide, commonly known as TPO, a photoinitiator that enables gel polish to harden when exposed to UV light and helps improve its durability and colour retention.
Under the new rules, which took effect on Saturday across England, Wales and Scotland, manufacturers are no longer permitted to place new TPO-containing cosmetic products on the UK market.
However, beauty salons have been given until February 14, 2027, to stop using existing products containing the chemical, meaning customers could still encounter TPO-based gel polishes during the transition period.
The move follows concerns arising from animal studies that have linked TPO exposure to possible reproductive and fertility problems. The European Union introduced a similar prohibition in September 2025.
The restrictions have nevertheless attracted debate within the cosmetics industry. The Cosmetic, Toiletry and Perfumery Association has maintained that the concentration of TPO used in nail products is significantly lower than levels associated with harmful effects.
The UK decision is therefore expected to intensify discussions within the beauty industry over whether precautionary restrictions should take priority where potential reproductive risks remain under investigation.
Investors in the Nigerian stock market recorded a cumulative loss of N5.45 trillion as the equities market extended its bearish run to an eighth consecutive session at the close of trading session on Thursday night, August 20..
Equities listed on the Nigerian Exchange Limited, NGX, have continued to experience significant declines since Tuesday, August 11, 2026 but last week, investors on the NGX lost N3.8 trillion in four consecutive bearish sessions.
From Monday to Thursday this week, stocks on the NGX have lost a total of N1.65 trillion meaning that the combined losses recorded over the last eight trading sessions amounted to N5.45 trillion, wiping out previous gains in the market.
The market extended its bearish run on Thursday as investors lost N440 billion, driven by continued profit-taking in large- and mid-cap stocks.
Market capitalisation declined by 0.30 per cent, or N440 billion, from N155.417 trillion at the opening of trading to N154.977 trillion at the close.
The Naira yesterday depreciated to N1,405 per dollar in the parallel market from N1,400 per dollar on Wednesday.
But the naira appreciated to N1,347.5 per dollar in the Nigerian Foreign Exchange Market, NFEM.
Data from the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira fell to N1,347.5 per dollar from N1,351 per dollar on Wednesday, indicating N3.5 appreciation for the naira.
Consequently, the margin between the parallel and official markets widened to N57.5 per dollar from N49 per dollar on Wednesday.
The interbank turnover at NFEM rose by 0.22 percent to N371.8 million yesterday from N370.98 million the previous day.
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