LONDON, United Kingdom — Banking giant HSBC Holdings is expanding its artificial intelligence ambitions through a multi-year partnership with Google Cloud, with the initiative expected to generate more than US$100 million in annual revenue gains and cost savings once fully implemented.
The collaboration forms part of HSBC Chief Executive Officer Georges Elhedery’s broader strategy to accelerate the bank’s digital transformation, using AI to improve productivity, strengthen risk management and enhance customer services. According to reports, HSBC plans to deploy Google’s AI technologies across key business units including wealth management, customer engagement and financial crime detection.
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