Bill Winters, CEO of Standard Chartered Bank, used that phrase to describe the 8,000 people that he plans to replace with AI.
After his odious utterance, he tried to walk it back.Hopefully, he won't be able to do so, and he will spend the rest of his life living in fear and paying for bodyguards.
AI has emboldened CEOs to make all kinds of smug declarations that betray their contempt for lowly human laborers.
But Bill Winters, the CEO of the British multinational bank Standard Chartered, said something so viscerally off-putting that he’s now gone into full damage control mode to get the heat off his back.
On Wednesday, he wrote an internal memo to employees attempting to explain away his remark that he would be firing thousands of workers and replacing the company’s “lower-value human capital” with AI.
Yes, you heard that right: “lower-value human capital.” And it clearly didn’t go over well.
“Many of you will have seen media coverage following the investor event in Hong Kong, particularly the reporting around automation, AI, and workforce changes,” Winters said in the memo, per The Wall Street Journal. “I know this may be unsettling when reduced to simple headlines or a quote out of context.”
No, it's not a matter of context. You told your truth and revealed yourself to be a psychopath.
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