June 21 (Cointime) - German tabloid company Bild, owned by Axel Springer SE, is set to replace around 200 editorial staff with artificial intelligence and automated processes as part of a move towards digital journalism.

The company stated that roles such as editors, print production journalists, proofreaders, photo editors and assistants will no longer exist as they do today. The move has sparked concerns over job losses in the future, with management consulting firm McKinsey & Co. predicting that generative AI may be able to fully automate as much as 50% of all work activity conducted in workplaces today.