Chartered

• Falling crude oil prices are providing "disinflationary relief" to several Asian nations, including India, Thailand, and the Philippines. • This trend reduces pressure on external accounts for heavy energy importers, granting the Reserve Bank of India (RBI) and other central banks more flexibility to prioritize economic growth. • The impact remains uneven across the region, as some economies, such as South Korea, may still experience inflation driven by the AI boom.

Bill Winters faced backlash over remarks about some of near 80,000 staff set to lose roles to AIThe chief executive of Standard Chartered has apologised for referring to some of the almost 8,000 staff that are set to lose their jobs to artificial intelligence as “lower-value human capital”.Bill Winters offered the apology after a backlash over comments he made earlier this week as the London-headquartered lender became one of the first major global banks to lay out plans to cut about 7,800 back-office roles, primarily in response to AI. Continue reading...

London-headquartered bank will reduce back-office jobs and aims to move some workers to new rolesBusiness live – latest updatesStandard Chartered plans to cut more than 7,000 jobs over the next four years as it increasingly uses artificial intelligence.The London-headquartered lender is one of the first major global banks to lay out plans to cut thousands of jobs, citing AI as a driver to make its operations slimmer as it seeks to increase its profitability and tackle competition. Continue reading...

• Standard Chartered Bank has established an artificial intelligence lab in collaboration with Singapore's Agency for Science, Technology and Research (A*STAR) to commercialize banking AI applications. • The lab will focus on testing AI use cases in wealth management and fraud control as financial institutions transition from pilot programs to full commercial deployment. • This initiative reflects the banking sector's shift toward operationalizing AI technology to enhance customer services and risk management capabilities.