HSBC Signs Multi-Year Google Cloud Deal to Deploy 200 New AI Tasks

According to Reuters, on June 17, HSBC signed a multi-year partnership with Google Cloud to expand artificial intelligence use in wealth management, financial crime risk management, and decision support systems. The bank expects the deal will enable 200 additional AI-driven tasks over the next two years.

HSBC already processes 980 million transactions monthly through AI-powered financial crime controls, identifying 2 to 4 times more potential violations while reducing false positives by 60 percent. The bank has migrated over 100 petabytes of data to Google Cloud and currently operates 600 applications on the platform.