The CEO of Standard Chartered Bank bluntly stated that artificial intelligence will replace "low-value human capital."

Standard Chartered CEO Bill Winters made frank comments on the prospects of the staff team, warning that the advancement of artificial intelligence would lead to the elimination of thousands of jobs as the bank replaces "low-value human capital" with technology. The bank announced a plan on Tuesday to streamline its operations by expanding the use of artificial intelligence, with plans to cut more than 15% of support positions by 2030. As of the end of last year, there were approximately 52,000 employees in these types of positions. Winters said at a briefing in Hong Kong, "This is not just about cost reduction, but in some cases, replacing low-value human capital with the financial capital and investment capital that we have put in." He added that affected employees will receive "clear and ample notice" in advance. He said, "We are not reducing work, but we are indeed reducing the number of positions to make room for machines, a trend that will accelerate as artificial intelligence progresses."