HSBC CEO: AI Will Cut Many Jobs; Employees Urged Not to Resist Change

CEO of HSBC, Georges Elhedery, said on Wednesday (May 20, 2026) that artificial intelligence (AI) will both eliminate and create certain types of jobs in the financial industry. HSBC is currently focusing on retraining its workforce. Citing Reuters, Elhedery said during HSBC’s investor day event that employees need to embrace AI-driven changes rather than resist them and work alongside the bank to navigate this new technology.

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