# HSBC's top executive Georges Elhedery stated that artificial intelligence will reshape jobs in finance.

*genai · news · 2026-05-20 · The Economic Times*

## Key points

- HSBC is retraining all 200,000 employees to prepare them for AI-driven job changes.
- HSBC appointed its first chief AI officer, David Rice, in March to lead AI initiatives.
- Rival Standard Chartered is cutting 15% of corporate function roles, over 7,000 jobs, due to AI.
- AI is being deployed by HSBC in onboarding, risk monitoring, contact centers, and wealth management.

**Companies:** HSBC, Standard Chartered, Mizuho
**Countries:** United Kingdom, Japan

[Read the full story on The Economic Times](https://economictimes.indiatimes.com/tech/artificial-intelligence/ai-will-destroy-and-create-new-jobs-urges-staff-to-embrace-change-hsbc-ceo/articleshow/131216923.cms)

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