AI will destroy and create new jobs, urges staff to embrace change: HSBC CEO

HSBC Chief Executive Georges Elhedery said on Wednesday AI would destroy and create certain jobs in the financial industry, and the bank was retraining its workforce to meet the challenge.

Elhedery told an HSBC investor day event that staff needed to embrace ‌AI-driven change rather ⁠than resist ⁠it and work with the bank on navigating the new technology.

“We all know generative AI will destroy certain jobs and will ​create new jobs,” Elhedery said.