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(Sharecast News) - HSBC announced a multi-year partnership with Google Cloud on Wednesday to build and deploy artificial intelligence capabilities across the bank's operations.
The partnership will aim to accelerate innovation in areas such as hyper-personalised wealth management advice for customers and financial crime risk management. HSBC said it will further accelerate its global shift towards AI-enabled ways of working.
"We'll work with Google Cloud and Google DeepMind engineering teams to collaborate on new AI-powered tools and programmes, with access to Google's latest agentic AI capabilities, including Gemini models," the bank said.
The programme is expected to enable more than 200 new AI use cases over the next two years, and will support the identification and prioritisation "of the highest-value initiatives for investment and delivery at HSBC". The bank expects the benefit value to exceed $100m, through either direct revenue gains or wider efficiency improvements.
Chief executive Georges Elhedery said: "AI is becoming one of the defining technologies of our time, allowing us to create a personalised experience for each customer, delivered in real time and at scale, while keeping human judgement, decision-making and accountability at the core.
"A partnership like this one with Google Cloud helps us empower our colleagues with the tools they need to be future-ready, and supports our work in building a simple, agile, faster and more personal HSBC."
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