The Financial Sector's Shift Towards AI Driven Efficiency Standard Chartered's plan to cut more than 7,000 jobs over the next four years reflects a seismic shift in the financial sector.
The London headquartered lender aims to increasingly rely on artificial intelligence (AI) to streamline operations and boost profitability.
The bank will reduce its workforce by about 13% through job cuts and automation, with redundancies concentrated in back office roles.