He insists talent remains key and that could even mean more jobs in the future.
issued Monday, June 8, 2026 · 05:55 PM
[LONDON] HSBC CEO Georges Erhedery said that even with the rise of artificial intelligence, people will remain at the heart of the bank.
His comments come as comments from a number of CEOs in recent weeks have left staff unsettled about the future of the industry.
“I need human judgment, I need human decision-making, and I need human responsibility at the core,” he said. He noted that AI could revolutionize the way banks serve their customers, with the potential for increased productivity and hyper-personalized services. However, he argued that talent remains key and there may even be more jobs in the future.
Many banks have announced plans to cut jobs in recent months as they prepare to deploy AI to make their operations faster and more efficient.
When Standard Chartered announced plans to cut jobs, its CEO Bill Winters caused a stir when he suggested that AI would replace what he called “low-value human capital”.
He later apologized for his remarks.
Bloomberg reported that HSBC is considering cutting as many as 20,000 positions, or about 10 percent of its workforce, over the next few years due to AI.
“The bank of the future means more capabilities,” Elhederi said. “I want to accelerate and deliver a number of ambitious outcomes for the future. That requires investment, and that requires job creation.”
He added that HSBC is working on integrating AI into its business and is already using AI for customer awareness compliance checks and other functions. bloomberg
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