In a move to further expand its AI capabilities, HSBC has formed a partnership with Google Cloud with plans to deploy in multiple areas, including wealth management.
HSBC and Google Cloud have signed a multi-year strategic partnership to build and deploy artificial intelligence (AI) capabilities globally, according to a statement. Over the next two years, the tie-up is expected to enable in 200 new AI use cases which are estimated to result in USD100 million in direct revenue gains or efficiency improvements.
There will initially be three focus areas including hyper-personalised wealth management support of relationship managers to provide tailored advice to clients, stronger financial crime risk management through the deployment of generative AI and agentic AI, and AI-empowered teams by equipping frontline staff with the expansion of an AI-powered decision assistant.
Google’s capabilities
The new collaboration will involve HSBC working with Google Cloud and Google DeepMind engineering teams, with access to the tech giant’s latest agentic AI capabilities, including Gemini models and the Gemini Enterprise Agent Platform. The bank already has an existing footprint of more than 600 applications running on Google Cloud.
“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. A partnership like this one with Google Cloud helps us empower our colleagues with the tools they need to be future-ready, and supports our work in building a simple, agile, faster, and more personal HSBC,” commented HSBC CEO Georges Elhedery.
HSBC’s wealth business is one of the major areas that has seen the deployment of AI capabilities. In September 2026, HSBC Private Bank announced the launch of Wealth Intelligence, a proprietary ecosystem powered by OpenAI’s large language model. It will initially analyse and summarise the bank’s research reports and external news feed before later being used to screen and identify suitable products for the bank’s wealth management teams to discuss with clients.
