Standard Chartered CEO Bill Winters apologises after facing public backlash for remarks about the impact of artificial intelligence on jobs. In comments earlier this week, Winters described AI’s effect as involving the replacement of “lower-value human capital,” a phrase that drew criticism from staff and observers. Multiple outlets report that the apology comes in communication to employees, with Winters walking back his wording and emphasizing the value of colleagues. He also says the bank is committed to reskilling and to repositioning staff rather than treating them as interchangeable. The controversy is linked to the bank’s announced plans to cut thousands of roles in response to AI, primarily in back-office functions. Reporting across outlets indicates Standard Chartered intends to reduce employment by roughly 7,000 to 7,800 positions, affecting a portion of its support staff by the end of the decade. The differing coverage focuses mainly on the language used, but all describe the same sequence: job-cut plans tied to AI, backlash over the “lower-value human capital” phrasing, and a subsequent apology and reassurances about staff development.