Home Top Stories “Technology does not reduce people” – Banks DIH Chairman responds to shareholders...
In a rapidly advancing technological age, where artificial intelligence (AI) is redefining industries globally, the Chairman and Managing Director of Banks DIH Limited, Clifford Barrington Reis has expressed confidence in the role of AI in enhancing operational efficiency without displacing human workers.
Addressing concerns surrounding the impact of AI on employment, Reis highlighted that the organisation is implementing a progressive approach to integrating cutting-edge technology while safeguarding jobs and maintaining high-quality standards.
Speaking at a shareholders’ meeting on Saturday, the Chairman pointed to the company’s newest AI-enabled manufacturing plant, which is expected to come online within nine months. The advanced facility, designed to meet increasing consumer demand, will boost production capacity by 20 per cent, addressing current shortfalls in supply.
However, he emphasised that AI’s role goes beyond mere automation. It involves enhancing the overall efficiency of the production line while maintaining the company’s commitment to sustainability.
“The whole plant is all AI, Technology nonstop. What we have to take into consideration with this technology, as I mentioned, relative to profit, is that the depreciation of these plants will have to increase, because the life of the plant is not going to be 15 years anymore”.
“Technology does not reduce people, because it might reduce the production, but then instead you might need more truck drivers to deliver the trucks. So, is this not a reduction or increase. It’s the way how you will manage the technology,” the Chairman said.
Further, Ries highlighted that Banks DIH, a vertically integrated company, stands as a model of self-sufficiency. With its own electricity, water wells, maintenance teams, and operational processes, the company has minimised reliance on external services, enabling greater control over cost and quality.
The Chairman elaborated on the company’s emphasis on data-driven management, describing it as the backbone of operational efficiency.
On this point, he also acknowledged the challenges posed by evolving employee expectations, particularly in light of recent tax-free salary adjustments for workers.
“Now, you have to be careful now with that new $50,000 per month, you know, being paid to workers tax-free. You know, maybe they’re gonna want to work overtime and not flat time to get a tax-free money. So here comes the HR now. HR has put up the flag already to monitor that efficiency to make sure that you don’t get into that culture, and then the plants don’t produce at 85 per cent efficiency. So, most of our administrative thinking is applied to the variables, route analysis”.
“Everything we measure, everything we measure, because without data you can’t manage. Data is the most important thing in any company,” Reis added.
In concluding, the Chairman noted that despite the rapid pace of technological change, Banks DIH is optimistic about the future, stating “we don’t have a choice but to embrace new technology. It’s how we communicate and implement it that makes the difference. AI is a tool for growth, not a threat to people.” (G1)
