HSBC targets $100 million gain in AI deal with Google Cloud

HSBC has signed a multi-year deal with Google Cloud to accelerate the adoption of artificial intelligence technology, Finextra reports.

Under the agreement, HSBC will work with Google Cloud and DeepMind engineering teams to collaborate on new AI-powered tools and programmes, with access to Google’s latest agentic AI capabilities, including Gemini models and the Gemini Enterprise Agent Platform.

The partnership is expected to enable more than 200 new AI HSBC use cases over the next two years with a priority focus on the highest value initiatives for investment and delivery, each of which the bank estimates could return more than US$100m in either direct revenue gains or wider efficiency improvements.

Georges Elhedery, Group CEO, HSBC, says: “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.”

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