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Standard Chartered Bank CEO: AI will replace "low-value human capital," reducing over 15% of support roles by 2030

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AIMPACT News, May 19 (UTC+8), Standard Chartered CEO Bill Winters stated that the bank plans to reduce over 15% of support roles by 2030 through expanded artificial intelligence applications, equivalent to thousands of positions. The bank currently has about 52k support staff located in India, China, Poland, Singapore, and Hong Kong. Winters said this move is to replace "low-value human capital" with technology and capital investment, involving job functions being replaced by machines rather than simple layoffs, and affected employees will be notified in advance. The report pointed out that Wall Street banks such as JPMorgan and Goldman Sachs are also accelerating the automation of their traditional "assembly line" style business processes with AI, raising concerns among regulators about cybersecurity and systemic risks. (Source: PANews)
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