Standard Chartered’s Group Chief Executive, Bill Winters, has addressed the ongoing discussion regarding the impact of automation and artificial intelligence on the workforce, clarifying remarks he previously made about the bank’s approach to adapting jobs in the evolving technological landscape.

In comments delivered at an investor presentation and subsequently widely reported, Winters noted that the bank is investing in equipping employees with skills required to succeed in an environment increasingly influenced by automation. He stated that without such investment, the alternative would be to replace certain “lower-value, human capital with financial capital and investment capital,” a phrase that some interpreted as undervaluing employees.

In a recent statement, Winters emphasised that the opposite is true, underscoring the company’s commitment to supporting its workforce. He acknowledged that his earlier choice of words caused misunderstanding and apologised to those who were upset by the remarks. He stressed the bank’s long-standing strategy to reskill and redeploy staff affected by technological change, describing the workforce as the company’s “greatest differentiator.”

According to Winters, the bank anticipates that automation will reduce some roles, particularly within corporate functions, but stresses its responsibility as an employer to provide training and create new opportunities for employees. Standard Chartered has reportedly invested significantly in initiatives designed to help staff acquire skills in emerging areas and to transition into new positions within the organisation.

The executive characterised the challenge for businesses as not a question of whether technology will transform jobs — an inevitability — but whether employers will engage openly and proactively with the changes it brings. He called for honest discussions about the future of work and emphasised a commitment to aiding employees through the transition processes.

Winters underlined the importance of adapting and thriving amid technological advances, highlighting the bank’s ability to attract, retain, and develop talent across diverse global markets. He concluded by reaffirming that while language matters, the real focus must be on delivering meaningful action to support employees in the AI age.