AS AI USE INCREASES STANDARD CHARTERED TO REDUCE THOUSANDS OF ROLES

BIZ

Standard Chartered to cut thousands of roles as AI use increases

 

Banking giant Standard Chartered has become the latest major company to announce job cuts as it increases its adoption of artificial intelligence (AI).

The firm, which has its headquarters in the UK, said it will cut more than 15%, or around 7,800, of its back-office roles by 2030.

The BBC understands that Standard Chartered aims to move some of the affected workers to other roles in the business.Companies around the world have announced major job cuts in recent months as they increasingly use AI tools for tasks currently carried out by humans.

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