# HSBC: AI strategy

Source: https://www.bankingnewsai.com/banks/hsbc
Last updated: Oct 5, 2026

*A G-SIB that says generative AI is where its biggest new technology investment goes, with a chief AI officer since April 2026, Mistral and Google Cloud deals, a Singapore AI centre of excellence and job cuts reported to be on the table.*

## How is HSBC using AI?

HSBC Holdings plc, which reported US$3,438,161m of total assets at 30 June 2026, calls generative AI the destination of its biggest new technology investment: on the results call of 25 February 2026 group CEO Georges Elhedery said so 'definitely', with around 85% of colleagues on a gen-AI productivity tool, 31,000 engineers using an AI coding assistant and about 50 processes under end-to-end redesign. The group named David Rice its first chief AI officer on 1 April 2026, signed a multi-year deal with Mistral AI for self-hosted models (December 2025) and a multi-year partnership with Google Cloud (17 June 2026) expected to enable more than 200 new AI use cases over two years, announced a Global AI Centre of Excellence in Singapore with more than 100 AI specialists (27 July 2026), and put an agent-orchestration platform, Promenaut, into production in September 2026. Bloomberg reported in March 2026 that the bank was weighing cuts that could affect around 20,000 roles; HSBC has not disclosed a number. Its US bank is covered separately at /banks/hsbc-usa.

## At a glance

| Field | Value |
| --- | --- |
| Lead bank | The Hongkong and Shanghai Banking Corporation Limited |
| Ticker | HSBA (LSE), 0005 (HKEX), HSBC (NYSE ADR) |
| Headquarters | London, United Kingdom |
| Home country | United Kingdom |
| Total assets (as reported) | US$3,438,161m total assets (Jun 30, 2026) |
| Charter | UK bank holding group; PRA-authorised (lead supervisor the Prudential Regulation Authority), with the Hong Kong Monetary Authority supervising The Hongkong and Shanghai Banking Corporation and ECB/SSM supervising HSBC Continental Europe |

## Flagship platform: HSBC Productivity Suite and the central AI platform

HSBC's 2025 annual report says its HSBC Productivity Suite tool, which summarises, analyses and translates documents, was available to around 85% of colleagues, and that more than 31,000 engineers used an AI-enabled coding assistant. When the group named its first chief AI officer in March 2026 it widened the chief technology officer's remit to include building a central AI platform that colleagues use to access a range of models. The platform draws on self-hosted Mistral models (December 2025) and Google's Gemini models and Gemini Enterprise Agent Platform (June 2026), with a hub-and-spoke governance model and a Group AI Review Committee deciding which novel use cases reach production. ([HSBC Holdings plc](https://www.hsbc.com/-/files/hsbc/investors/hsbc-results/2025/annual/pdfs/hsbc-holdings-plc/260225-annual-report-and-accounts-2025.pdf), [HSBC Holdings plc](https://hsbc.com/-/files/hsbc/media/media-release/2026/260323-david-rice-announced-as-chief-ai-officer.pdf), [HSBC Holdings plc](https://hsbc.com/-/files/hsbc/media/media-release/2025/251201-hsbc-and-mistral-ai-join-forces-to-accelerate-ai-adoption-across-global-bank.pdf), [Google Cloud (PR Newswire)](https://www.prnewswire.com/news-releases/hsbc-and-google-cloud-announce-transformative-ai-banking-partnership-302802395.html), [HSBC Holdings plc](https://www.hsbc.com/who-we-are/hsbc-and-digital/hsbc-and-ai/transforming-hsbc-with-ai))

## Key points

- Priority and scale: 'the biggest investment going into the new technology today, it is definitely going into Generative AI' (group CEO, 25 February 2026); around 85% of colleagues enabled with a gen-AI productivity tool and 31,000 engineers with a coding assistant; the annual report counts more than 100 active gen-AI use cases and HSBC's AI page says over 600 AI use cases are in operation.
- Leadership: David Rice, an 18-year veteran and former COO of corporate and institutional banking, became the first group chief AI officer on 1 April 2026; CTO Mario Shamtani's remit widened to a central AI platform. Reuters noted that a formal head of AI is relatively unusual among big global banks.
- Partners, build and buy: Mistral AI (multi-year, self-hosted models, December 2025), Google Cloud and DeepMind (multi-year, more than 200 new use cases over two years, projects each estimated above US$100m, June 2026), Harvey AI for a legal-team pilot (January 2026), and Promenaut for agent orchestration, in which HSBC has invested (September 2026).
- Talent: a Global AI Centre of Excellence in Singapore in the second half of 2026 will hire more than 100 AI specialists, joining established AI talent hubs in Hong Kong and the UK; first projects are wealth-journey conversations, agentic treasury and AI-enabled digital payments.
- Governance: a Group AI Review Committee, AI Review Councils embedded across the bank in the first half of 2025, mandatory responsible-AI training and a hub-and-spoke model in which novel use cases are approved centrally; the CEO says AI keeps 'human judgement, decision-making and accountability at the core'.
- Jobs: Bloomberg reported (19 March 2026) that HSBC was weighing multi-year cuts that could affect about 20,000 roles, or about 10% of its workforce, with non-client-facing service-centre roles most exposed; HSBC declined to comment. On 20 May 2026 the CEO told staff generative AI 'will destroy certain jobs and will create new jobs'.
- Agentic payments and clients: HSBC and Mastercard piloted end-to-end B2B agentic commerce transactions for two Singapore clients in May 2026; HSBCnio (launched 29 September 2026) lets clients' own AI tools reach authorised account data through HSBC's Model Context Protocol, with an 'Ask HSBC' feature planned.
- Benchmark: Evident's 2025 AI Index put HSBC among the top ten banks worldwide, as reported by American Banker in October 2025.
- Its US bank, HSBC Bank USA, is covered separately at /banks/hsbc-usa.

## Timeline

- Sep 29, 2026 — **HSBCnio launches at Sibos** A digital banking solution for corporate and institutional clients whose Model Context Protocol lets clients' own AI tools read authorised account and transaction data; 'Ask HSBC' is planned. ([HSBC Holdings plc](https://www.hsbc.com/news-and-views/news/hsbc-news-archive/hsbc-launches-hsbcnio-digital-banking-solution-for-businesses))
- Sep 28, 2026 — **Smart Checking for documentary trade** AI extracts and classifies information from trade-finance documents (over a million documentary presentations a year); live in the UK, Hong Kong and the UAE, with a global rollout planned. ([PYMNTS](https://pymnts.com/news/artificial-intelligence/2026/hsbc-deploys-ai-to-enhance-trade-finance-operations))
- Sep 22, 2026 — **Promenaut agent orchestration goes live** Business-case evaluation and pre-coding steps in the software delivery lifecycle run on the platform, with permissions, audit trails and human-in-the-loop controls; HSBC has invested and chief AI officer Rice joins the board. ([Finextra](https://www.finextra.com/newsarticle/48450/agent-workflow-platform-promenaut-goes-live-at-hsbc))
- Aug 4, 2026 — **Interim results 2026: AI in 'Innovation at scale'** The interim report says AI will play an increasingly important role in personalising services and running the bank; the CEO reports around 50 processes under re-engineering and says the group is creating capacity to invest in talent, technology and AI. ([HSBC Holdings plc](https://hsbc.com/-/files/hsbc/investors/hsbc-results/2026/interim/pdfs/hsbc-holdings-plc/260804-hsbc-holdings-plc-interim-report-2026.pdf), [HSBC Holdings plc](https://hsbc.com/-/files/hsbc/investors/hsbc-results/2026/interim/pdfs/hsbc-holdings-plc/260806-interim-results-2026-presentation-to-investors-and-analysts-transcript.pdf))
- Jul 27, 2026 — **'Built on trust, accelerated with AI'** The CEO's strategy piece reports that Corporate and Institutional Banking agents handling customer enquiries cut resolution time by over 30% since January 2025, and that productivity gains are being reinvested in technology teams. ([HSBC Holdings plc](https://hsbc.com/news-and-views/views/hsbc-views/our-strategy-built-on-trust-accelerated-with-ai))
- Jul 27, 2026 — **Global AI Centre of Excellence in Singapore** To launch in the second half of 2026 with more than 100 AI specialists in NLP, data science, AI governance and human-centred design, working with the chief AI officer on wealth journeys, agentic treasury and AI-enabled payments. ([HSBC Holdings plc](https://hsbc.com/news-and-views/news/hsbc-news-archive/hsbc-to-establish-global-ai-centre-of-excellence-in-singapore), [The Business Times](https://businesstimes.com.sg/companies-markets/wanted-100-ai-specialists-100-wealth-relationship-managers-hsbc-singapore))
- Jul 20, 2026 — **Founding member of EPAA's AI and agentic payments group** HSBC and Mastercard piloted end-to-end B2B agentic commerce transactions for two Singapore-based clients in May; the working group targets liability, agent-identity and dispute standards across Asia Pacific. ([Finextra](https://finextra.com/pressarticle/110454/hsbc-joins-epaa-agentic-ai-working-group-as-founding-member))
- Jun 17, 2026 — **Multi-year partnership with Google Cloud and DeepMind** More than 200 new AI use cases over two years, with Gemini models and the Gemini Enterprise Agent Platform; first areas are hyper-personalised wealth support, financial-crime risk management (twice-as-fast intervention across nearly one billion monitored transactions a month) and an AI decision assistant for frontline staff; prioritised projects each estimated to return more than US$100m. ([Google Cloud (PR Newswire)](https://www.prnewswire.com/news-releases/hsbc-and-google-cloud-announce-transformative-ai-banking-partnership-302802395.html), [Bloomberg](https://bloomberg.com/news/articles/2026-06-17/hsbc-google-ai-partnership-set-to-add-over-100-million-gains))
- May 20, 2026 — **CEO to staff: AI will destroy and create jobs** Elhedery urges staff not to resist the change, pledging that AI can make them 'more productive versions of themselves'; Standard Chartered announced almost 8,000 cuts the day before. ([Reuters](https://reuters.com/legal/legalindustry/dont-fight-ai-hsbc-ceo-tells-staff-banks-begin-job-cuts-2026-05-20))
- May 5, 2026 — **First-quarter call: AI investment inside a cost target of about 1% growth** The CFO says the 2026 cost growth target of around 1% includes investing in AI to empower colleagues, simplify how the bank operates and personalise service at scale. ([HSBC Holdings plc](https://hsbc.com/-/files/hsbc/investors/hsbc-results/2026/1q/pdfs/hsbc-holdings-plc/250506-1q-2026-earnings-release-investors-and-analysts-call-transcript.pdf))
- Apr 1, 2026 — **CEO: more than 100 gen-AI cases, about half live; tools for 170,000 colleagues** In an interview published by HSBC, Elhedery says gen-AI productivity tools are rolled out to 170,000 colleagues with 200,000-plus to follow, 30,000 technologists are enabled, and vulnerability patching is ten times faster than a year earlier; he says usage is not optional. ([HSBC Holdings plc](https://hsbc.com/-/files/hsbc/news-and-insight/2026/pdf/260402-video-transcript-on-the-future-of-hsbc-and-ai.pdf))
- Mar 23, 2026 — **First chief AI officer appointed** David Rice from 1 April; CTO Mario Shamtani to build a central AI platform and lead strategic partnerships. Reuters notes the appointment comes as the bank seeks cost cuts and links AI to its return-on-tangible-equity target of above 17% for 2026-2028. ([HSBC Holdings plc](https://hsbc.com/-/files/hsbc/media/media-release/2026/260323-david-rice-announced-as-chief-ai-officer.pdf), [Reuters](https://reuters.com/business/finance/hsbc-appoints-david-rice-first-chief-ai-officer-2026-03-23), [Banking Dive](https://bankingdive.com/news/hsbc-david-rice-ai-chief-cto-mario-shamtani-expanded-role-elhedery/815655))
- Mar 19, 2026 — **Deep AI-linked job cuts reported to be under consideration** Bloomberg, relayed by Reuters: around 20,000 roles, about 10% of the workforce, over a three-to-five-year plan, with non-client-facing service-centre roles most exposed; early stage, no final decisions, and HSBC declined to comment. ([Bloomberg](https://bloomberg.com/news/articles/2026-03-19/hsbc-mulls-deep-job-cuts-from-multiyear-ai-fueled-overhaul), [Reuters](https://reuters.com/business/world-at-work/hsbc-mulls-job-cuts-that-could-impact-around-20000-roles-bloomberg-news-reports-2026-03-19))
- Feb 25, 2026 — **Full-year 2025 results: generative AI is the biggest technology investment** Three workstreams: AI for every colleague (85% enabled, 31,000 engineers, five times faster vulnerability patching, 60% faster unit testing), end-to-end process re-engineering (50 processes) and customer experience. The deck reports 1,000+ relationship managers on a Wealth AI platform and a Banker Assist tool for about 1,400 customer-facing colleagues; the annual report counts more than 100 active gen-AI use cases. ([HSBC Holdings plc](https://www.hsbc.com/-/files/hsbc/investors/hsbc-results/2025/annual/pdfs/hsbc-holdings-plc/260226-annual-results-to-investors-and-analysts-transcript.pdf), [HSBC Holdings plc](https://hsbc.com/-/files/hsbc/investors/hsbc-results/2025/annual/pdfs/hsbc-holdings-plc/260225-annual-results-2025-presentation-to-investors-and-analysts.pdf), [HSBC Holdings plc](https://www.hsbc.com/-/files/hsbc/investors/hsbc-results/2025/annual/pdfs/hsbc-holdings-plc/260225-annual-report-and-accounts-2025.pdf), [Banking Dive](https://bankingdive.com/news/hsbc-generative-ai-leading-investment-elhedery/813353))
- Jan 21, 2026 — **Harvey AI pilot for the in-house legal team** HSBC runs pilot trials of Harvey's legal AI platform as part of a broader move to embed AI across the organisation. ([Finextra](https://finextra.com/newsarticle/47163/hsbc-to-pilot-ai-platform-for-legal-work))
- Dec 1, 2025 — **Multi-year partnership with Mistral AI** Access to Mistral's commercial models and future developments, self-hosted on HSBC's own systems, to improve an AI-powered productivity platform used by colleagues; future focus includes credit and lending, onboarding, and fraud and anti-money-laundering checks. ([HSBC Holdings plc](https://hsbc.com/-/files/hsbc/media/media-release/2025/251201-hsbc-and-mistral-ai-join-forces-to-accelerate-ai-adoption-across-global-bank.pdf), [Finextra](https://finextra.com/newsarticle/46986/hsbc-to-adopt-mistral-ai-foundational-models-across-the-bank))
- Oct 8, 2025 — **Evident AI Index: HSBC in the global top ten** American Banker's report on the 2025 index lists HSBC among the ten most AI-mature of the 50 banks ranked. ([American Banker](https://americanbanker.com/news/jpmorganchase-capital-one-top-ai-ranking-once-again))
- Sep 25, 2025 — **Quantum-enabled bond-trading trial with IBM** HSBC reports up to a 34% improvement in predicting whether a European corporate-bond request for quote would be filled at the quoted price, using IBM quantum computers alongside classical models. A quantum rather than an AI result, it appears in the group's innovation narrative. ([HSBC Holdings plc](https://hsbc.com/-/files/hsbc/media/media-release/2025/250923-hsbc-demonstrates-worlds-first-known-quantum-enabled-algorithmic-trading-with-ibm.pdf))

## Where AI runs

| Use case | What | Status | Detail | Sources |
| --- | --- | --- | --- | --- |
| [Generative & agentic AI](https://www.bankingnewsai.com/ai-regulation/by-use-case#generative-agentic-ai) | HSBC Productivity Suite and LLM assistant for colleagues | In production | Summarises, analyses and translates documents; around 85% of colleagues enabled in February 2026, with 170,000 rolled out and 200,000-plus targeted per the CEO in April 2026. | [HSBC Holdings plc](https://www.hsbc.com/-/files/hsbc/investors/hsbc-results/2025/annual/pdfs/hsbc-holdings-plc/260225-annual-report-and-accounts-2025.pdf), [HSBC Holdings plc](https://hsbc.com/-/files/hsbc/investors/hsbc-results/2025/annual/pdfs/hsbc-holdings-plc/260225-annual-results-2025-presentation-to-investors-and-analysts.pdf), [HSBC Holdings plc](https://hsbc.com/-/files/hsbc/news-and-insight/2026/pdf/260402-video-transcript-on-the-future-of-hsbc-and-ai.pdf) |
| [AI-generated code & coding agents](https://www.bankingnewsai.com/ai-regulation/by-use-case#ai-generated-code) | AI coding assistants | In production | 31,000 engineers enabled; 60% faster unit testing and five times faster vulnerability patching in February 2026; HSBC's AI page cites 20,000 developers and a 15% coding-time efficiency. | [HSBC Holdings plc](https://www.hsbc.com/-/files/hsbc/investors/hsbc-results/2025/annual/pdfs/hsbc-holdings-plc/260226-annual-results-to-investors-and-analysts-transcript.pdf), [HSBC Holdings plc](https://www.hsbc.com/who-we-are/hsbc-and-digital/hsbc-and-ai/transforming-hsbc-with-ai) |
| [Generative & agentic AI](https://www.bankingnewsai.com/ai-regulation/by-use-case#generative-agentic-ai) | Mistral self-hosted models | Rolling out | Multi-year access to Mistral's commercial models to improve the internal productivity platform, financial analysis of document-heavy lending, multilingual translation and faster development cycles. | [HSBC Holdings plc](https://hsbc.com/-/files/hsbc/media/media-release/2025/251201-hsbc-and-mistral-ai-join-forces-to-accelerate-ai-adoption-across-global-bank.pdf) |
| [Generative & agentic AI](https://www.bankingnewsai.com/ai-regulation/by-use-case#generative-agentic-ai) | Google Cloud programme: wealth, decision assistant, regulatory procedures | Rolling out | Expansion of an AI decision assistant already cutting admin and meeting-prep time from hours to minutes for thousands of users; codifying regulatory procedures into an AI structure for bankers. | [Google Cloud (PR Newswire)](https://www.prnewswire.com/news-releases/hsbc-and-google-cloud-announce-transformative-ai-banking-partnership-302802395.html) |
| [AML / KYC](https://www.bankingnewsai.com/ai-regulation/by-use-case#aml-kyc) | Generative and agentic AI for financial-crime risk | Announced | A financial-crime architecture to detect risk earlier and intervene twice as fast across nearly one billion transactions monitored a month. | [Google Cloud (PR Newswire)](https://www.prnewswire.com/news-releases/hsbc-and-google-cloud-announce-transformative-ai-banking-partnership-302802395.html) |
| [Customer-facing chatbots](https://www.bankingnewsai.com/ai-regulation/by-use-case#customer-chatbots) | Servicing assistant in Corporate and Institutional Banking | In production | Supports 3 million client interactions a year; agents handling enquiries cut resolution time by over 30% since January 2025. | [HSBC Holdings plc](https://www.hsbc.com/who-we-are/hsbc-and-digital/hsbc-and-ai/transforming-hsbc-with-ai), [HSBC Holdings plc](https://hsbc.com/news-and-views/views/hsbc-views/our-strategy-built-on-trust-accelerated-with-ai) |
| [Credit scoring & underwriting](https://www.bankingnewsai.com/ai-regulation/by-use-case#credit-underwriting) | Gen-AI credit analysis write-ups | In production | Uses trusted internal and external data to reduce time to complete the credit application process. | [HSBC Holdings plc](https://www.hsbc.com/who-we-are/hsbc-and-digital/hsbc-and-ai/transforming-hsbc-with-ai) |
| [Generative & agentic AI](https://www.bankingnewsai.com/ai-regulation/by-use-case#generative-agentic-ai) | Wealth AI platform and Banker Assist | In production | More than 1,000 relationship managers use the Wealth AI platform for tailored insights; Banker Assist augments about 1,400 customer-facing colleagues. | [HSBC Holdings plc](https://hsbc.com/-/files/hsbc/investors/hsbc-results/2025/annual/pdfs/hsbc-holdings-plc/260225-annual-results-2025-presentation-to-investors-and-analysts.pdf) |
| [Generative & agentic AI](https://www.bankingnewsai.com/ai-regulation/by-use-case#generative-agentic-ai) | Promenaut agent orchestration | In production | Agents run business-case evaluation and pre-coding steps in the software delivery lifecycle with permissions, audit trails and human-in-the-loop controls. | [Finextra](https://www.finextra.com/newsarticle/48450/agent-workflow-platform-promenaut-goes-live-at-hsbc) |
| [Generative & agentic AI](https://www.bankingnewsai.com/ai-regulation/by-use-case#generative-agentic-ai) | Smart Checking for trade documents | In production | AI turns inconsistent documentary-trade paperwork into structured, searchable data; live in three markets. | [PYMNTS](https://pymnts.com/news/artificial-intelligence/2026/hsbc-deploys-ai-to-enhance-trade-finance-operations) |
| [Generative & agentic AI](https://www.bankingnewsai.com/ai-regulation/by-use-case#generative-agentic-ai) | Agentic commerce with Mastercard in Singapore | Pilot | End-to-end B2B agentic commerce transactions piloted for two Singapore-based clients in May 2026. | [Finextra](https://finextra.com/pressarticle/110454/hsbc-joins-epaa-agentic-ai-working-group-as-founding-member), [The Business Times](https://businesstimes.com.sg/companies-markets/wanted-100-ai-specialists-100-wealth-relationship-managers-hsbc-singapore) |
| [Generative & agentic AI](https://www.bankingnewsai.com/ai-regulation/by-use-case#generative-agentic-ai) | HSBCnio with Model Context Protocol access | Announced | Clients' own AI tools reach authorised account and transaction data; 'Ask HSBC' planned. | [HSBC Holdings plc](https://www.hsbc.com/news-and-views/news/hsbc-news-archive/hsbc-launches-hsbcnio-digital-banking-solution-for-businesses) |
| [Generative & agentic AI](https://www.bankingnewsai.com/ai-regulation/by-use-case#generative-agentic-ai) | Harvey AI for the in-house legal team | Pilot | Pilot trials of a legal AI platform. | [Finextra](https://finextra.com/newsarticle/47163/hsbc-to-pilot-ai-platform-for-legal-work) |
| [AI governance (general)](https://www.bankingnewsai.com/ai-regulation/by-use-case#governance-general) | AI Review Committee and hub-and-spoke governance | In production | Novel AI use cases go through a governance review before pilot and are approved by a committee of senior executives; AI Review Councils were embedded across the bank in the first half of 2025. | [HSBC Holdings plc](https://www.hsbc.com/who-we-are/hsbc-and-digital/hsbc-and-ai/transforming-hsbc-with-ai), [HSBC Holdings plc](https://hsbc.com/who-we-are/hsbc-and-digital/hsbc-and-ai/theres-a-risk-in-missing-the-ai-opportunity) |
| [Trading & capital markets](https://www.bankingnewsai.com/ai-regulation/by-use-case#trading-markets) | Quantum-classical bond-trade fill prediction | Pilot | A trial, not a production system: up to 34% better prediction of whether a request for quote would be filled. | [HSBC Holdings plc](https://hsbc.com/-/files/hsbc/media/media-release/2025/250923-hsbc-demonstrates-worlds-first-known-quantum-enabled-algorithmic-trading-with-ibm.pdf) |

## Disclosed numbers

| Measure | Value | As of | Sources |
| --- | --- | --- | --- |
| Total assets (HSBC Holdings plc) | US$3,438,161m | Jun 30, 2026 | [HSBC Holdings plc](https://hsbc.com/-/files/hsbc/investors/hsbc-results/2026/interim/pdfs/hsbc-holdings-plc/260804-hsbc-holdings-plc-interim-results-2026-media-release.pdf) |
| Colleagues with a gen-AI productivity tool | c.85%; 31,000 engineers with an AI coding assistant | Feb 25, 2026 | [HSBC Holdings plc](https://hsbc.com/-/files/hsbc/investors/hsbc-results/2025/annual/pdfs/hsbc-holdings-plc/260225-annual-results-2025-presentation-to-investors-and-analysts.pdf), [HSBC Holdings plc](https://www.hsbc.com/-/files/hsbc/investors/hsbc-results/2025/annual/pdfs/hsbc-holdings-plc/260226-annual-results-to-investors-and-analysts-transcript.pdf) |
| Colleagues rolled out to / engineers enabled (CEO, April 2026) | 170,000 / 30,000 | Apr 1, 2026 | [HSBC Holdings plc](https://hsbc.com/-/files/hsbc/news-and-insight/2026/pdf/260402-video-transcript-on-the-future-of-hsbc-and-ai.pdf) |
| Gen-AI use cases (CEO, April 2026) | More than 100, about half live in production | Apr 1, 2026 | [HSBC Holdings plc](https://hsbc.com/-/files/hsbc/news-and-insight/2026/pdf/260402-video-transcript-on-the-future-of-hsbc-and-ai.pdf) |
| Active gen-AI use cases (annual report) | More than 100 | Dec 31, 2025 | [HSBC Holdings plc](https://www.hsbc.com/-/files/hsbc/investors/hsbc-results/2025/annual/pdfs/hsbc-holdings-plc/260225-annual-report-and-accounts-2025.pdf) |
| AI use cases in operation (HSBC AI page) | Over 600 | Oct 5, 2026 | [HSBC Holdings plc](https://www.hsbc.com/who-we-are/hsbc-and-digital/hsbc-and-ai/transforming-hsbc-with-ai) |
| Processes under end-to-end re-engineering | About 50 | Aug 4, 2026 | [HSBC Holdings plc](https://hsbc.com/-/files/hsbc/investors/hsbc-results/2026/interim/pdfs/hsbc-holdings-plc/260806-interim-results-2026-presentation-to-investors-and-analysts-transcript.pdf) |
| Google Cloud programme | 200+ new use cases in two years; prioritised projects each > US$100m; 600+ applications already on Google Cloud | Jun 17, 2026 | [Google Cloud (PR Newswire)](https://www.prnewswire.com/news-releases/hsbc-and-google-cloud-announce-transformative-ai-banking-partnership-302802395.html) |
| Transactions monitored for financial crime each month | Near one billion | Jun 17, 2026 | [Google Cloud (PR Newswire)](https://www.prnewswire.com/news-releases/hsbc-and-google-cloud-announce-transformative-ai-banking-partnership-302802395.html) |
| Customer resolution time, C&IB enquiry agents | Down over 30% since January 2025 | Jul 27, 2026 | [HSBC Holdings plc](https://hsbc.com/news-and-views/views/hsbc-views/our-strategy-built-on-trust-accelerated-with-ai) |
| Global AI Centre of Excellence hiring | More than 100 AI specialists | Jul 27, 2026 | [HSBC Holdings plc](https://hsbc.com/news-and-views/news/hsbc-news-archive/hsbc-to-establish-global-ai-centre-of-excellence-in-singapore) |
| Net change in FTE in 2025 | c.4.4k reduction excluding Tech; Tech up c.1.8k | Dec 31, 2025 | [HSBC Holdings plc](https://hsbc.com/-/files/hsbc/investors/hsbc-results/2025/annual/pdfs/hsbc-holdings-plc/260225-annual-results-2025-presentation-to-investors-and-analysts.pdf) |
| Staff (full-time equivalent) | 208,720 | Dec 31, 2025 | [Reuters](https://reuters.com/business/world-at-work/hsbc-mulls-job-cuts-that-could-impact-around-20000-roles-bloomberg-news-reports-2026-03-19) |
| Roles reportedly at risk (Bloomberg) | Around 20,000, about 10% of the workforce | Mar 19, 2026 | [Reuters](https://reuters.com/business/world-at-work/hsbc-mulls-job-cuts-that-could-impact-around-20000-roles-bloomberg-news-reports-2026-03-19) |

## Quotes

> "If you ask me where is the biggest investment going into the new technology today, it is definitely going into Generative AI." — Georges Elhedery, Group Chief Executive, Feb 25, 2026 ([HSBC Holdings plc](https://www.hsbc.com/-/files/hsbc/investors/hsbc-results/2025/annual/pdfs/hsbc-holdings-plc/260226-annual-results-to-investors-and-analysts-transcript.pdf))

> "Our ambition here is simple – we will empower our colleagues to use AI to create a personalised experience for each customer, deliver it safely, in real time and at scale, while keeping human judgement, decision-making and accountability at the core." — Georges Elhedery, Group Chief Executive, Mar 23, 2026 ([HSBC Holdings plc](https://hsbc.com/-/files/hsbc/media/media-release/2026/260323-david-rice-announced-as-chief-ai-officer.pdf))

> "And while we as humans will not be replaced by AI, if we don’t know how to embrace it and upskill ourselves using it, we will become obsolete." — Georges Elhedery, Group Chief Executive, Apr 1, 2026 ([HSBC Holdings plc](https://hsbc.com/-/files/hsbc/news-and-insight/2026/pdf/260402-video-transcript-on-the-future-of-hsbc-and-ai.pdf))

> "We all know generative AI will destroy certain jobs and will create new jobs" — Georges Elhedery, Group Chief Executive, May 20, 2026 ([Reuters](https://reuters.com/legal/legalindustry/dont-fight-ai-hsbc-ceo-tells-staff-banks-begin-job-cuts-2026-05-20))

> "As AI becomes increasingly embedded across financial services, the opportunity is not simply to deploy more AI, but to do so in a way that is controlled, accountable and measurable." — David Rice, Group Chief AI Officer, Sep 22, 2026 ([Finextra](https://www.finextra.com/newsarticle/48450/agent-workflow-platform-promenaut-goes-live-at-hsbc))

## Who runs AI

- **Georges Elhedery** — Group Chief Executive, HSBC Holdings ([HSBC Holdings plc](https://www.hsbc.com/-/files/hsbc/investors/hsbc-results/2025/annual/pdfs/hsbc-holdings-plc/260226-annual-results-to-investors-and-analysts-transcript.pdf), [HSBC Holdings plc](https://hsbc.com/-/files/hsbc/media/media-release/2026/260323-david-rice-announced-as-chief-ai-officer.pdf), [Reuters](https://reuters.com/legal/legalindustry/dont-fight-ai-hsbc-ceo-tells-staff-banks-begin-job-cuts-2026-05-20))
- **David Rice** — Group Chief AI Officer (from 1 April 2026; previously Chief Operating Officer, Corporate and Institutional Banking); board member of Promenaut ([HSBC Holdings plc](https://hsbc.com/-/files/hsbc/media/media-release/2026/260323-david-rice-announced-as-chief-ai-officer.pdf), [Finextra](https://www.finextra.com/newsarticle/48450/agent-workflow-platform-promenaut-goes-live-at-hsbc))
- **Mario Shamtani** — Group Chief Technology Officer; remit widened in March 2026 to include a central AI platform and key strategic partnerships ([HSBC Holdings plc](https://hsbc.com/-/files/hsbc/media/media-release/2026/260323-david-rice-announced-as-chief-ai-officer.pdf))
- **Stuart Riley** — Group Chief Information Officer (as quoted on HSBC's 'Transforming HSBC with AI' page) ([HSBC Holdings plc](https://www.hsbc.com/who-we-are/hsbc-and-digital/hsbc-and-ai/transforming-hsbc-with-ai))
- **Pam Kaur** — Group Chief Financial Officer ([HSBC Holdings plc](https://hsbc.com/-/files/hsbc/investors/hsbc-results/2026/1q/pdfs/hsbc-holdings-plc/250506-1q-2026-earnings-release-investors-and-analysts-call-transcript.pdf), [HSBC Holdings plc](https://hsbc.com/-/files/hsbc/investors/hsbc-results/2026/interim/pdfs/hsbc-holdings-plc/260806-interim-results-2026-presentation-to-investors-and-analysts-transcript.pdf))
- **Bob Hoyt** — Group Chief Legal Officer (fronted the Harvey AI pilot for the in-house legal team) ([Finextra](https://finextra.com/newsarticle/47163/hsbc-to-pilot-ai-platform-for-legal-work))
- **Dara Sosulski** — Head of AI and Model Management ([Computer Weekly](https://computerweekly.com/news/366625845/AI-Summit-London-Managing-legacy-IT-and-the-pace-of-AI-development))
- **Philip Intallura** — Group Head of Quantum Technologies ([HSBC Holdings plc](https://hsbc.com/-/files/hsbc/media/media-release/2025/250923-hsbc-demonstrates-worlds-first-known-quantum-enabled-algorithmic-trading-with-ibm.pdf))
- **Thomas Elliott** — Chief Operating Officer, Global Trade Solutions (Smart Checking) ([PYMNTS](https://pymnts.com/news/artificial-intelligence/2026/hsbc-deploys-ai-to-enhance-trade-finance-operations))
- **Amber Henderson-Smart** — Global Head of Client Connectivity, Global Payment Solutions (HSBCnio) ([HSBC Holdings plc](https://www.hsbc.com/news-and-views/news/hsbc-news-archive/hsbc-launches-hsbcnio-digital-banking-solution-for-businesses))
- **Wong Kee Joo** — CEO, HSBC Singapore (host market for the Global AI Centre of Excellence) ([The Business Times](https://businesstimes.com.sg/companies-markets/wanted-100-ai-specialists-100-wealth-relationship-managers-hsbc-singapore))

## Regulators it answers to

- [UK (BoE / PRA / FCA)](https://www.bankingnewsai.com/ai-regulation/uk) — The group is headquartered in London and supervised by the Prudential Regulation Authority and the FCA; the chief AI officer, the central AI platform and any AI-linked restructuring sit under PRA model-risk and FCA AI expectations. See [PRA SS1/23](https://www.bankingnewsai.com/ai-regulation/documents/pra-ss1-23-model-risk-management), [FCA AI Update (Apr 2024)](https://www.bankingnewsai.com/ai-regulation/documents/fca-ai-update-2024), [FS2/23](https://www.bankingnewsai.com/ai-regulation/documents/uk-fs2-23-ai-and-machine-learning), [2026 BoE/FCA AI survey](https://www.bankingnewsai.com/ai-regulation/documents/uk-ai-in-financial-services-survey-2026).
- [ECB](https://www.bankingnewsai.com/ai-regulation/ecb) — HSBC Continental Europe, the group's eurozone bank, falls under ECB banking supervision, whose 2026-28 priorities cover digitalisation and AI-related risk. See [SSM supervisory priorities 2026–28](https://www.bankingnewsai.com/ai-regulation/documents/ecb-ssm-supervisory-priorities-2026-28).
- [EU AI Act](https://www.bankingnewsai.com/ai-regulation/eu-ai-act) — Credit-scoring and similar AI used for EU customers is high-risk under the EU AI Act, which reaches HSBC's EU entities and any EU-facing models built in the group's hubs. See [Regulation (EU) 2024/1689](https://www.bankingnewsai.com/ai-regulation/documents/eu-ai-act-regulation-2024-1689), [EBA factsheet on the AI Act](https://www.bankingnewsai.com/ai-regulation/documents/eba-ai-act-factsheet-banking-payments-2025).
- [FSB](https://www.bankingnewsai.com/ai-regulation/fsb) — A global systemically important bank deploying AI at group scale, with third-party concentration in Google Cloud and Mistral, is inside the FSB's AI monitoring and sound-practices work. See [FSB AI sound practices consultation (June 2026)](https://www.bankingnewsai.com/ai-regulation/documents/fsb-ai-sound-practices-consultation-2026), [FSB AI monitoring report (Oct 2025)](https://www.bankingnewsai.com/ai-regulation/documents/fsb-monitoring-ai-adoption-vulnerabilities-2025).
- [Basel Committee](https://www.bankingnewsai.com/ai-regulation/basel-committee) — Group-wide data and third-party arrangements for AI platforms engage BCBS 239 aggregation principles and the Basel third-party risk principles. See [BCBS 239](https://www.bankingnewsai.com/ai-regulation/documents/bcbs-239), [BCBS Third-Party Risk Principles (Dec 2025)](https://www.bankingnewsai.com/ai-regulation/documents/bcbs-third-party-risk-principles-2025).
- [Federal Reserve](https://www.bankingnewsai.com/ai-regulation/federal-reserve) — HSBC North America Holdings is the US intermediate holding company; group AI platforms used by US staff are third-party and model-risk matters for the US entities (covered at /banks/hsbc-usa). See [SR 23-4](https://www.bankingnewsai.com/ai-regulation/documents/fed-sr-23-4), [SR 26-2](https://www.bankingnewsai.com/ai-regulation/documents/fed-sr-26-2).
- [HKMA](https://www.bankingnewsai.com/ai-regulation/hkma) — The Hongkong and Shanghai Banking Corporation is the group's Hong Kong flagship and is supervised by the HKMA; Hong Kong is one of the group's established AI talent hubs.
- [MAS](https://www.bankingnewsai.com/ai-regulation/mas) — The new Global AI Centre of Excellence sits in Singapore, where HSBC has more than 3,600 employees and where MAS sets technology and AI risk-management expectations.

## What the record suggests

### A named owner changes what can be said

HSBC moved from a diffuse set of programmes to a chief AI officer, a CTO charged with a central platform, and a Singapore centre with a hiring target. That makes the group's AI claims easier to test than those of peers where responsibility sits inside technology.

### The productivity story and the jobs story are the same story

The CEO says utilisation is 'not optional' and that gen AI will destroy and create jobs; Bloomberg reports cuts that could reach about 20,000 roles; the deck shows c.4.4k fewer FTE outside technology in 2025 with technology up c.1.8k. HSBC has not published an AI-attributed headcount number, so the link remains reported, not disclosed.

### Three suppliers, one governance model

Mistral (self-hosted), Google (Gemini and agent platform) and Promenaut (orchestration) cover models, cloud and agents. The hub-and-spoke review model is the control that has to span all three, which is where supervisors' third-party and concentration questions will land.

### Disclosure is wide but counted three ways

The annual report says more than 100 active gen-AI use cases, the CEO says over 100 with about half live, and HSBC's AI page says over 600 AI use cases are in operation. Each can be right under its own definition, but outside readers cannot reconcile them without a stated taxonomy.

### Agentic payments are where the group is positioning early

The Mastercard pilot, the EPAA founding membership and HSBCnio's Model Context Protocol access put HSBC in the standard-setting conversation on liability and agent identity before regulators have settled it.

## FAQ

### Who leads AI at HSBC?

David Rice became HSBC's first group chief AI officer on 1 April 2026; he was previously chief operating officer of corporate and institutional banking. Chief technology officer Mario Shamtani builds the central AI platform, and group CEO Georges Elhedery sets the priority.

### What AI partnerships does HSBC have?

Mistral AI (a multi-year agreement announced 1 December 2025 for self-hosted models), Google Cloud and Google DeepMind (a multi-year partnership announced 17 June 2026 expected to enable more than 200 AI use cases over two years), Harvey AI for a legal-team pilot, and Promenaut, an agent-orchestration platform in which HSBC has invested.

### Is HSBC cutting jobs because of AI?

Bloomberg reported on 19 March 2026 that HSBC was weighing cuts that could ultimately affect around 20,000 roles, about 10% of its workforce, and HSBC declined to comment; no final decisions had been made. On 20 May 2026 the CEO said generative AI would destroy certain jobs and create new ones. HSBC has not published an AI-attributed job-cut figure.

### Where is HSBC's US bank in this picture?

HSBC Bank USA is a national bank inside the group and is covered on its own page at /banks/hsbc-usa; the group's AI platforms, partnerships and governance described here are set in London.

### How large is HSBC?

HSBC Holdings plc reported total assets of US$3,438,161m at 30 June 2026, in its interim results published on 4 August 2026.

## Sources (32)

1. Interim Results 2026 media release — HSBC Holdings plc, Aug 4, 2026. https://hsbc.com/-/files/hsbc/investors/hsbc-results/2026/interim/pdfs/hsbc-holdings-plc/260804-hsbc-holdings-plc-interim-results-2026-media-release.pdf
2. HSBC Holdings plc - Interim Report 2026 — HSBC Holdings plc, Aug 4, 2026. https://hsbc.com/-/files/hsbc/investors/hsbc-results/2026/interim/pdfs/hsbc-holdings-plc/260804-hsbc-holdings-plc-interim-report-2026.pdf
3. Annual Report and Accounts 2025 — HSBC Holdings plc, Feb 25, 2026. https://www.hsbc.com/-/files/hsbc/investors/hsbc-results/2025/annual/pdfs/hsbc-holdings-plc/260225-annual-report-and-accounts-2025.pdf
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8. HSBC and Mistral AI join forces to accelerate AI adoption across global bank — HSBC Holdings plc, Dec 1, 2025. https://hsbc.com/-/files/hsbc/media/media-release/2025/251201-hsbc-and-mistral-ai-join-forces-to-accelerate-ai-adoption-across-global-bank.pdf
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15. HSBC demonstrates world's first-known quantum-enabled algorithmic trading with IBM — HSBC Holdings plc, Sep 25, 2025. https://hsbc.com/-/files/hsbc/media/media-release/2025/250923-hsbc-demonstrates-worlds-first-known-quantum-enabled-algorithmic-trading-with-ibm.pdf
16. HSBC launches HSBCnio digital banking solution for businesses — HSBC Holdings plc, Sep 29, 2026. https://www.hsbc.com/news-and-views/news/hsbc-news-archive/hsbc-launches-hsbcnio-digital-banking-solution-for-businesses
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19. HSBC Mulls Deep Job Cuts From Multiyear AI-Fueled Overhaul — Bloomberg, Mar 19, 2026. https://bloomberg.com/news/articles/2026-03-19/hsbc-mulls-deep-job-cuts-from-multiyear-ai-fueled-overhaul
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21. HSBC appoints first chief AI officer as it seeks cost cuts — Reuters, Mar 23, 2026. https://reuters.com/business/finance/hsbc-appoints-david-rice-first-chief-ai-officer-2026-03-23
22. Don't fight AI, HSBC CEO tells staff as banks begin job cuts — Reuters, May 20, 2026. https://reuters.com/legal/legalindustry/dont-fight-ai-hsbc-ceo-tells-staff-banks-begin-job-cuts-2026-05-20
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25. HSBC to adopt Mistral AI foundational models across the bank — Finextra, Dec 1, 2025. https://finextra.com/newsarticle/46986/hsbc-to-adopt-mistral-ai-foundational-models-across-the-bank
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30. Wanted: 100 AI specialists, 100 wealth relationship managers at HSBC Singapore — The Business Times, Jul 27, 2026. https://businesstimes.com.sg/companies-markets/wanted-100-ai-specialists-100-wealth-relationship-managers-hsbc-singapore
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