According to CoinMeta, ANZ Bank’s Nuno Matos called for the establishment of a global regulatory framework to address the impact of artificial intelligence on the labor market. He warned that a lack of regulation could lead to an international crisis. During a parliamentary hearing in Canberra, Matos stated that if there were mass layoffs of up to 50%, “we would face a crisis, and it would not be limited to Australia; it would be a global crisis.” He pointed out, “This is one of the few situations that requires global regulatory intervention to ensure that society does not fall into trouble.” In recent years, while the Australian banking industry has adopted artificial intelligence, it has also been accompanied by waves of layoffs, especially at a time when the economic environment is full of challenges. Some critics, including the Australian Financial Industry Union, accuse banks of using artificial intelligence to replace employees. Matos said, “I hope that countries around the world and their governments can work together to ensure that this technology does not cause social problems on a global scale.”