HSBC to set up AI institute in race to train staff
Banking giant HSBC says an artificial intelligence and emerging technology institute it is setting up in Hong Kong is due to become operational in the first quarter of 2027. Announcing the update at Hong Kong Fintech Week on Monday, chief executive Georges Elhedery said the city's biggest lender aims to move the institute to the Northern Metropolis once a suitable location has been identified.…
HSBC plans to establish an artificial intelligence institute in Hong Kong, aiming to become fully operational in the first quarter of 2027, according to the bank's chief executive Georges Elhedery. The bank's announcement was made during Hong Kong Fintech Week. Elhedery revealed that HSBC seeks to collaborate with Hong Kong University of Science and Technology as the institute's initial academic partner, combining their expertise with HSBC's domain knowledge and financial services to develop solutions that improve clients' lives through AI and other emerging technologies.
The institute will help HSBC's approximately 200,000 employees, including roughly 28,000 in Hong Kong, become more efficient in their roles. The bank is also testing how client agents can work alongside the bank's agents to manage basic tasks, while addressing security concerns by constantly identifying vulnerabilities and building resilient systems.
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