HSBC CEO pushes back on AI job fears, says hiring could grow
What's new: Georges Elhedery said HSBC already uses AI for compliance checks even as reports point to up to 20,000 potential cuts.
HSBC CEO Georges Elhedery sought to reassure staff and clients that human judgment will remain central to banking as the lender expands its use of artificial intelligence. Speaking in London, Elhedery said AI can lift productivity and help banks offer more personalized service, but he argued that accountability and decision-making still require people. He also said AI could support more hiring by speeding up projects HSBC wants to deliver. His remarks come as banks across the industry prepare job cuts tied to automation. Bloomberg has reported HSBC is weighing reductions of as many as 20,000 roles, or about 10% of its workforce, over the coming years. Elhedery said HSBC already uses AI in know-your-customer compliance checks.