Alphabet's Google Cloud and HSBC launched a multi-year strategic partnership to integrate artificial intelligence across the bank's global operations. The collaboration utilizes Google’s Gemini models to improve personalized wealth management and financial crime detection.
The agreement aims to deploy more than 200 new AI use cases over the next two years. HSBC expects top-tier initiatives to generate over $100 million each in direct revenue or efficiency savings.
This deal expands an existing relationship where HSBC currently runs over 600 applications on Google Cloud infrastructure.