HSBC HOLDINGS (00005.HK)  +4.300 (+3.105%)    Short selling $336.14M; Ratio 16.136%   CEO Georges Elhedery said in an interview with Bloomberg that people will remain central to banks even as AI becomes widespread.

STANCHART (02888.HK)  +6.500 (+3.364%)    Short selling $32.62M; Ratio 8.913%   CEO Bill Winters’ earlier remarks about using AI to replace "lower-value human capital" sparked controversy and he subsequently apologized for the comments.

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Elhedery said he needs human judgment, human decision-making and human accountability at the core. While AI will revolutionize how banks serve customers, with the potential for productivity increase and hyper-personalized services, the CEO insisted that people are still key, and this could mean more hiring in the future.

He added that the bank of the future means more capabilities, hoping to accelerate and advance many of the ambitious deliverables set for HSBC’s future, which will require investment and in turn create job opportunities.

Elhedery said HSBC is working to integrate AI across its entire business and has already applied it to various functions, including Know Your Customer (KYC) compliance checks.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-06-12 16:25.)

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