StanChart CEO Calms Staff After ‘Lower-Value Human’ Backlash (1)

Standard Chartered PlcChief Executive Officer Bill Winters sought to reassure staff after his remarks on using artificial intelligence to replace “lower-value human capital” triggered a sharp backlash on social media and from a former head of state.

“Many of you will have seen media coverage following the Investor Event in Hong Kong, particularly the reporting around automation, AI, and workforce changes,” Winters wrote in a memo to staff on Wednesday that was seen by Bloomberg News. “I know this may be unsettling when reduced to simple headlines or a quote out of context.”

The memo was confirmed by a ...