HSBC and Alphabet’s Google Cloud signed a multi-year partnership on June 17, 2026. This collaboration aims to build the bank's artificial intelligence capabilities to drive revenue and reduce costs.
The bank will utilize Google’s Gemini AI model to automate data processing and support frontline staff. Key focus areas include personalized wealth management and financial crime risk management.
HSBC plans to deploy 200 additional AI-driven tasks over the next two years. Some individual projects are expected to deliver more than $100 million in value.