[Standard Chartered CEO: Artificial Intelligence Will Replace 'Low-Value Human Capital'] According to a report by Jinse Finance, on May 19, Standard Chartered CEO Bill Winters made candid remarks about the future of the workforce, warning that the advancement of artificial intelligence (AI) will lead to the elimination of thousands of positions as the bank replaces 'low-value human capital' with technology. The bank announced a plan on Tuesday to streamline its operational structure by expanding the application of AI, aiming to cut more than 15% of support roles by 2030. As of the end of last year, there were approximately 52,000 employees in such roles. Speaking at a briefing in Hong Kong, Winters stated: 'This is not simply about cost-cutting but, in certain cases, replacing low-value human capital with the financial and investment capital we deploy.' He added that affected employees would be given 'clear and ample notice' in advance. He said: 'We are not reducing work, but we are indeed reducing the number of positions to make room for machines. This trend will continue to accelerate with the advancement of artificial intelligence.'