London: HSBC Holdings Plc says it will use Alphabet Inc\u2019s Google Cloud to roll out artificial intelligence (AI) across its global operations, expecting each project to generate more than US$100mil either in revenue or through efficiency gains.<\/p>\n
The multiyear partnership will enable more than 200 new AI use cases at HSBC over the next two years.<\/p>\n
HSBC is among the first global banks to lay out how it plans to deploy AI to generate revenue and boost efficiency.<\/p>\n
The company will work with Google Cloud and Google DeepMind engineering teams to build new AI tools and programmes, using Google\u2019s latest agentic AI capabilities, including Gemini models and the Gemini Enterprise Agent Platform.<\/p>\n
The bank is weighing to cut about 20,000 roles, or about 10% of its workforce, in the coming years as a result of AI, a person familiar with the matter said in March.<\/p>\n
Georges Elhedery, the chief executive officer (CEO) of HSBC, said people will remain central to banks even as AI becomes more widely used, seeking to reassure employees concerns about job security.<\/p>\n
JPMorgan Chase & Co CEO Jamie Dimon said the technology \u201cwill eliminate jobs\u201d.<\/p>\n
Jane Fraser, Citigroup Inc\u2019s CEO, said some jobs \u201cwill no longer be required\u201d, while Goldman Sachs Group Inc president Waldron referred to employees as a \u201chuman assembly line\u201d ripe for automation. \u2014 Bloomberg<\/p>\n","protected":false},"excerpt":{"rendered":"London: HSBC Holdings Plc says it will use Alphabet Inc\u2019s Google Cloud to roll out artificial intelligence (AI)…\n","protected":false},"author":2,"featured_media":77670,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[22790,24,9052,42417,42419,42421,132,1429,42418,6658,42420],"class_list":["post-77669","post","type-post","status-publish","format-standard","has-post-thumbnail","category-google","tag-agenticai","tag-ai","tag-artificialintelligence","tag-corporate-news","tag-digitalbanking","tag-efficiencygains","tag-google","tag-google-ai","tag-googlecloud","tag-hsbc","tag-workforcetransformation"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/77669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/comments?post=77669"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/77669\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media\/77670"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media?parent=77669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/categories?post=77669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/tags?post=77669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}