StanChart to cut over 7,000 jobs, boost AI to replace 'lower-value human capital'

Reddit r/ArtificialInteligence News

Summary

Standard Chartered plans to cut over 7,000 jobs and increase use of AI to replace lower-value human capital.

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Barclays cutting 5,000 jobs as it increases reliance on AI

Reddit r/singularity

Barclays announced it is cutting around 5,000 jobs, about 5% of its global workforce, as it increases its use of AI in business operations, with cuts expected to be completed by year-end. Unions criticized the move as using AI as an excuse to discard workers, while analysts noted broader implications for the banking industry.

Job reduced due to AI

Reddit r/ArtificialInteligence

A user shares their experience of having their HR/Finance job reduced by 50% due to AI automation through a Service Now subscription, expressing concern about AI's disruptive effects on the job market.