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Speaking at the Hong Kong Monetary Authority's Global Financial Leaders' Investment Summit, Standard Chartered CEO Winters said in response to a question about AI's impact on jobs that employees' fears about AI disrupting employment are real, but reskilling and training can ease those concerns. He noted that Standard Chartered currently has about 100,000 employees and has eliminated roughly 25,000 positions through automation over the past 11 years while creating new roles; the bank plans to cut more than 15% of back-office function positions by 2030, corresponding to about 8,000 support roles.
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Standard Chartered CEO Winters says AI job fears objectively exist
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Nov 4
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Standard Chartered CEO Winters on AI's Impact on Jobs: Fear Is Real, Training Is the Cure
Speaking at the Hong Kong Monetary Authority's Global Financial Leaders' Investment Summit in response to a question about AI's impact on jobs, Standard Chartered CEO Winters said that employees' sense of panic is indeed real, but reskilling and training can ease those concerns. Standard Chartered currently has about 100,000 employees; over the past 11 years it has cut about 25,000 positions through automation while creating new roles. The bank plans to cut more than 15% of back-office function positions by 2030, corresponding to about 8,000 support roles.
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Nov 3
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Standard Chartered CEO Winters on AI's Impact on Jobs: Fear Is Real, Training Is the Cure
Standard Chartered CEO Winters, responding to AI's impact on jobs at the Hong Kong Monetary Authority's Global Financial Leaders' Investment Summit, said employees' sense of panic is real, but reskilling and training can ease concerns. Standard Chartered currently has about 100,000 employees, roughly the same as 11 years ago; during that period, automation cut about 25,000 positions while creating new ones. In May, the bank announced plans to cut more than 15% of back-office roles by 2030, about 8,000 support positions. Barclays also plans to cut 5,000 jobs to reduce costs with AI.
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