Standard Chartered to cut more than 7,000 jobs as it steps up AI use

"London-headquartered bank will reduce back-office jobs and aims to move some workers to new roles Standard Chartered plans to cut more than 7,000 jobs over the next four years as it increasingly uses artificial intelligence. The London-headquartered lender is one of the first major global banks to lay out plans to cut thousands of jobs, citing AI as a driver to make its operations slimmer as it seeks to increase its profitability and tackle competition. Continue reading..."

Original Source

This report is based on coverage originally published by The Guardian.

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