[Standard Chartered Bank Plans to Cut Over 7,000 Jobs in the Next Four Years and Increase AI Investment] BlockBeats News, May 19, according to Reuters, Standard Chartered Bank plans to cut more than 7,000 jobs over the next four years by using technology to replace 'low-value human capital,' becoming the latest financial institution to leverage artificial intelligence for large-scale layoffs. The London-based bank stated on Tuesday that AI will help streamline operations to improve profitability and address competition. Standard Chartered said it aims to reduce 15% of corporate function roles by 2030. According to Reuters' calculations, this means over 7,000 employees out of more than 52,000 in the relevant departments will be laid off. CEO Bill Winters told reporters: 'This is not simply about cutting costs, but in some cases, replacing low-value human capital with the financial and investment capital we are deploying.' [Original Link]