Standard Chartered CEO apologizes for calling some workers ‘lower value human capital’ in AI push
Standard Chartered CEO Bill Winters has apologized for referring to some employees as 'lower value human capital' in the context of AI automation. His comments sparked significant backlash, prompting him to clarify his statements and express regret for any upset caused. The bank plans to reduce its workforce by 15% in certain roles while emphasizing efforts to reskill affected employees.
- ▪Bill Winters, CEO of Standard Chartered, faced criticism for calling some workers 'lower value human capital' in relation to AI automation.
- ▪After backlash, Winters apologized and acknowledged the upset caused by his choice of words.
- ▪Standard Chartered plans to reduce its workforce by 15% in certain roles while offering reskilling opportunities for affected employees.
Opening excerpt (first ~120 words) tap to expand
Workers are anxiously awaiting the fate of their careers as more employers tout the opportunity to automate certain roles, and even whole departments. Bill Winters, the CEO of Standard Chartered, for example, recently said that “lower value human capital” can be replaced by advanced tech at the global bank—but after uproar ensued, he’s now backtracking on that stance.Recommended Video The baby boomer bank leader took to LinkedIn to admit that his words had unnerved some of his coworkers. “I have received a lot of support for the messages in my previous post but still get questions about my choice of words, which I know has caused upset to some colleagues,” Winters wrote.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Fortune.
Discussion
0 commentsMore from Fortune
