HSBC CEO Georges Elhedery has warned that artificial intelligence (AI) will change the shape of work in financial services as the bank increases its use of the technology across the business.
At an investor day on Wednesday, Elhedery told employees to adapt to the shift and work with the bank as AI becomes a larger part of its operations, Reuters reported.
He said generative AI would lead to the loss of some roles while opening up new ones, making workforce training a priority for HSBC.
Elhedery framed the challenge as one of preparing the bank’s global workforce for a different operating environment.
He said HSBC needed to give employees the skills, support and resources to stay relevant as AI changes how work is done.
He also stressed that the transition should not leave staff feeling excluded, worried or resistant to the changes being introduced.
HSBC appointed David Rice as its first Chief AI Officer in March, with the role taking effect on 1 April.
The appointment is part of HSBC’s effort to scale AI use across its operations.
The bank has identified AI as one way to simplify its operations, reduce manual processes and support its profitability targets.
Elhedery said HSBC is using the technology across multiple functions and business lines, including efforts to tailor content for customers.
The bank’s investor materials point to several areas where AI is being applied, from onboarding and customer due diligence to risk monitoring, call centre operations and wealth services.
Featured image: Edited by Fintech News Singapore, based on image by ttonaorh via Magnific
