![\"Elhedery](\"https:\/\/www.europesays.com\/britain\/wp-content\/uploads\/2026\/05\/201211-georges-elhedery-1200x675-1.jpg\")
\t\tHSBC chief Georges Elhedery.\t<\/p>\n\t\t\tWednesday 20 May 2026 10:01 am\n\t\t\t<\/p>\n
\t\tHSBC chief Georges Elhedery.\t<\/p>\n
The boss of Europe\u2019s largest bank has warned that the growth of AI<\/a> will both \u201cdestroy\u201d and \u201ccreate\u201d new jobs as the banking industry continues to be reshaped in the face of new technology.<\/p>\n Georges Elhedery, chief executive<\/a> of HSBC, warned that the bank\u2019s staff must avoid \u201cfighting us\u201d as it unveiled its latest AI adoption plans at an investor day event.<\/p>\n Staff must not be \u201cdisenfranchised, not anxious, overwhelmed, and resisting the change,\u201d he told those in attendance. <\/p>\n Elhedery said getting the bank \u201cfuture ready\u201d was his top priority as it recognised the \u201cenormous opportunity\u201d in AI.<\/p>\n \u201cWe all know \u200bgenerative AI will destroy certain jobs and will create new jobs,\u201d the blue-chip bank\u2019s chief said.<\/p>\n \u201cBut my initial mission \u200bis: I need 200,000 colleagues with us on this journey \u2013 however many will be \u2060left at the end of the journey isn\u2019t the problem.\u201d<\/p>\n HSBC and Standard Chartered turn to AI<\/p>\n Elhedery \u2013 who has steered HSBC since September 2024 \u2013 said the \u201cproblem\u201d now was ensuring staff were given all the \u201ccapabilities, the training, the tools to\u2026 be more productive versions of themselves\u201d. <\/p>\n \t\t\t\t\tRead more<\/p>\n \t\t\tEuropean banking jobs face AI reset \u2018not mass job losses \u2013 for now\u2019<\/a><\/p>\n The remarks come after peer Standard Chartered revealed plans to slash almost 8,000 back-office<\/a> roles, stoking more fears of the consequences of AI on the financial services industry.<\/p>\n The lender\u2019s boss, Bill Winters \u2013 one of the longest-serving FTSE 100 chiefs \u2013 pushed back against claims of \u201ccost-cutting\u201d and instead said it was \u201creplacing, in some cases, lower-value human capital with the financial capital and investment capital we\u2019re putting in\u201d.<\/p>\n Elhedery, too, attempted to re-frame the argument away from cost-cutting. \u201cThis is where it\u2019s not anymore about productivity or cost gains. It\u2019s going to be about the acquisition of more customers and more revenue,\u201d he insisted.<\/p>\n The global banking industry is racing to leverage AI to streamline its<\/a> balance sheet amid mounting pressure from digital-native rivals. Japanese lender Mizuho announced in March plans to axe up to 5,000 jobs over a decade.<\/p>\n David Rice, who was appointed as HSBC\u2019s first chief AI officer in March, has doubled down on using tech to increase returns through savings on automation.<\/p>\n HSBC has deployed generative AI as coding assistants for over 20,000 developers in a bid to boost efficiency in time spent coding. Among the FTSE 100 banks, the firm has the highest ranking on the\u00a0Evident AI index<\/a>, which serves as a global benchmark for AI integration in the banking sector, at eighth place. Lloyds Banking Group comes in at 15 and Natwest at 16.<\/p>\n \t\t\t\t\tRead more<\/p>\n