4 hours ago
36
The bank plans to move the institute to the Northern Metropolis, a large-scale development project near mainland China, when its facilities are ready.
HSBC is expanding its artificial intelligence operations in Asia with plans to open an AI and emerging technology institute in Hong Kong in early 2027, according to Reuters.
Chief Executive Georges Elhedery said the institute would launch in the first quarter and partner with the Hong Kong University of Science and Technology, which will serve as its anchor academic institution.
The bank also plans to relocate the centre to the Northern Metropolis development once the site is ready.
The move follows HSBC’s announcement in July that it would recruit more than 100 AI specialists for a dedicated centre in Singapore. These initiatives reflect the bank’s efforts to expand its AI capabilities across key Asian financial hubs as lenders increasingly integrate the technology into their operations.
The expansion is taking place as AI adoption reshapes employment across the banking sector. Citi, Standard Chartered and Barclays have announced plans to eliminate thousands of jobs this year as part of AI-related changes. HSBC, which employs around 28,000 people in Hong Kong and approximately 200,000 globally, is also rolling out AI training across its workforce.
Disclosure: This article was edited by Diego Almada Lopez. For more information on how we create and review content, see our Editorial Policy.
English (US) ·