AI, Automation and Job Security: What FinTech Workers Need to Know

The rapid rise of generative AI, automated decision-making and machine learning is reshaping Ireland’s FinTech and financial services sectors. These new technologies and tools promise to save us time on repetitive admin and help streamline operations, but they have also led to workers experiencing growing AI in the workplace concerns. 

FSU research revealed that 88% of respondents believe AI will lead to job losses. 60% said they felt less secure in their roles than 5 years ago.  In recent times, some high-profile FinTech firms have been openly naming AI as the reason for their decision to restructure and make certain roles redundant. Tech-driven change is a certainty, but your rights under employment law stay constant. 

There are safeguards in ROI and NI. For professionals across the island, understanding how Irish and UK employment law governs is crucial to safeguarding your career. And remember, the FSU is here to help provide trusted, practical advice and the strength in numbers that a union can provide.  If you are concerned about how technology is being managed in your role, you can contact our Advice Centre for free, confidential, expert guidance. 

Employment law and how it impacts FinTech workers 

In the Republic of Ireland, redundancy must always be genuine. The Unfair Dismissals Acts and redundancy rules under employment law in the Republic of Ireland protect workers from automated or unfair procedures. 

Employers cannot use technology or algorithmic performance management to bypass fair redundancy procedures. They can’t just blame “automation” when it comes to workplace procedures. They must prove that a fair selection process was followed. And that they explored alternative employment options for you. 

In Northern Ireland, the Employment Rights Order 1996 says that employers must engage in meaningful statutory consultation periods if technological restructuring leads to collective redundancies.

Employers on both sides of the border must navigate stringent data protection and privacy rules when introducing algorithmic monitoring.

Many professionals are experiencing growing AI concerns in the workplace, ranging from intrusive digital surveillance to automated performance management systems that set unrealistic targets. If an automated system flag is used to discipline you, you have a right to human intervention and a fair appeal.

Automation job security: What can employers do?

Employers can introduce new software, but they cannot legally use AI to unfairly manage performance, change contract terms, or dismiss staff without due human process.

If you are facing sudden changes to your contract or algorithmic performance reviews, or if you are concerned about how technology is being managed in your workplace? Contact the FSU Advice Centre today for free, confidential, expert guidance.

What to do if you have concerns about AI in the workplace

• Ask for transparency: Ask HR or your line manager for a clear explanation of how automated tools monitor your daily performance in your company. 
• Document everything: Keep records of your manual outputs, training achievements, and any technical errors caused by automated systems.
• Flag unfair targets: If automated software sets KPIs that don’t incorporate human variables, document these differences in writing.
• Know the consultative timelines. Check if your employer has a formal technology or restructuring policy that requires them to consult employees before deploying AI. And ensure to learn about the statutory consultation periods in both ROI and NI if restructuring is announced.

Get peace of mind about your job security and protect your career and income. You can ask our team about your contract or performance reviews when you join the FSU (see more about the benefits of joining).

Your job security, AI and the future

This is a topic the Financial Services Union has actively campaigned on - technology and the human-in-command principle. Technological progress should not come at the expense of human dignity or job security. 

Our FSU General Secretary, John O'Connell, emphasised the union's stance on the rapid transition, saying: 

"Artificial intelligence must be introduced with agreement from staff. We need guardrails to ensure technology is a tool that supports workers, rather than a way to quietly replace them. Having a human-in-command approach to AI means workers’ rights and job security are protected." 

The FSU has backed this position with action, securing Europe’s first collective agreement on AI with Bank of Ireland, which guarantees ethical safeguards and human oversight. Read more about Accounting for Workers in the Age of AI or download our full report here.

You can join the FSU and benefit from the collective power of a community of thousands of FinTech workers like you. You can also talk directly to our Advice Centre team, our advisors are experienced in all aspects of employment law and FinTech and financial services employees every day.

Contact our Advice Centre team for a free 15-minute call.

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