4 Leaders Whose Comments On AI & Jobs Sparked Debate: From “Lower-Value Human Capital” To “AI With A Heart”

Artificial intelligence (AI) may currently be the corporate world’s favourite phrase, especially when it comes from retrenchments.

Here are four high-profile figures whose recent comments about AI and workers got the Internet talking.

Bill Winters, Standard Chartered CEO

The 64-year-old CEO of Standard Chartered triggered backlash after comments made during the bank’s investor briefing in Hong Kong on May 19.

Discussing workforce changes linked to AI, he said: “It’s not cost-cutting. It’s replacing in some cases lower-value human capital with the financial capital and the investment capital we’re putting in.”

The controversy intensified after Standard Chartered later confirmed plans to cut more than 15 per cent of corporate-function roles by 2030 — roughly 7,800 jobs — despite the bank reportedly performing strongly financially.

Following the backlash, Bill later sent out an internal memo, saying: “We will continue to invest in technology, platforms, and automation to improve how we operate, serve clients and position the bank for long-term growth,” he said.

“I want to be absolutely clear that the future of Standard Chartered depends on the talent, judgment, relationships, and commitment of you, our colleagues," he added

But by then, many online felt he had already said the quiet part out loud.

Halimah Yacob, Former President of Singapore

The Standard Chartered CEO's controversial statement did not sit well with many, including Halimah Yacob.

The 71-year-old publicly criticised the phrase “lower-value human capital” in a Facebook post that quickly gained attention online.

“Workers are human beings with families, not just a form of capital,” she wrote.

According to Halimah, the issue wasn’t simply about retrenchments themselves — but how companies communicate during difficult periods.

She pointed out that comments like these can seriously damage morale among employees who remain.

“Imagine the morale of those who remain behind knowing that they are just another form of capital to their employer,” she wrote.

She ended with a poignant reminder: “Carry out retrenchments humanely. Treat workers with respect.”

Eric Schmidt, Former Google CEO

The 71-year-old was booed during a commencement speech at the University of Arizona.

While discussing AI’s future impact, he told graduates: “Whatever path you choose, AI will become part of how the work is done.”

The crowd, apparently already stressed about job prospects and student loans, did not respond warmly.

At one point, Eric acknowledged the discomfort in the room: “There is a fear in your generation that the jobs are evaporating.”

To be fair, he did not dismiss those concerns. In fact, he called them “rational”.

But he also encouraged students to shape AI’s future rather than reject it entirely.

“When someone offers you a seat on the rocket ship, you do not ask which seat. You just get on," he said.

Some critics pointed out that advice sounds easier coming from a billionaire former tech CEO from a wealthy background.

Tan Su Shan, DBS Bank CEO

Compared to the doom-and-gloom reactions surrounding other CEOs, DBS CEO Tan Su Shan's approach to AI has been more grounded.

Speaking at Fortune Brainstorm AI Singapore 2025, she even joked that AI could eventually replace her own role too.

“The day I was appointed CEO, my board sent me a WhatsApp saying, ‘Even a CEO can be replaced by AI',” she shared.

Unlike some executives, however, Tan repeatedly emphasised that DBS does not view AI as a replacement for people entirely.

“Our narrative has always been that we’re here to save workers, not jobs,” she said in an interview with Business Times.

“We want AI to take away your mundane work, and create capacity for you to reskill and upskill, and do a higher-order job,” she added.

She also stressed that DBS still plans to continue hiring graduates.

And perhaps most importantly, she reminded everyone not to forget the human side of technology.

“I think, what is maybe under-emphasised is the heart. We want DBS to be the best AI-enabled bank with a heart, because at the end of the day, you can use AI, you can use all these great tools, but what’s the point if you don’t put the human in the centre of everything you do?" she said.