Standard Chartered CEO: AI transformation intensifies 'sense of fear,' but employees are not facing technological disruption for the first time

Artificial intelligence may replace hundreds of thousands of jobs, but Standard Chartered Group CEO Bill Winters has a message for anxious employees: something similar has happened before. Speaking on Tuesday in response to questions about AI development, Winters said: "There is a real sense of fear among people." He noted that Standard Chartered currently has about 100,000 employees, the same size as when he joined the bank 11 years ago. "During that period, we eliminated about 25,000 roles through automation, while replacing those positions with other jobs."