HSBC establishes global AI hub in Singapore

HSBC will establish a Global AI Centre of Excellence (CoE) in Singapore, using the city-state as a base to develop artificial intelligence  (AI) capabilities for wealth management, payments and treasury.

The centre, scheduled to launch in the second half of 2026, will initially focus on enhancing customer wealth journey conversations, introducing agentic treasury solutions and developing AI-enabled digital payments.

The bank plans to hire more than 100 AI specialists, who will work alongside David Rice, HSBC’s chief AI officer, and teams responsible for areas such as wealth management and global payments solutions.

The CoE aims to build a pipeline of talent across natural language processing, data science, AI governance, and human-centred design, and we’ll work with world-leading educational institutions and government bodies in Singapore.

Georges Elhedery, group chief executive officer, HSBC, said: “The new AI Centre of Excellence in Singapore will help drive our global AI vision  to empower our colleagues to use AI to create a personalised experience for each customer, deliver it safely, in real time and at scale, while keeping human judgement, decision-making and accountability at the core.”

"We see AI as an opportunity to be a simple, more responsive and more connected bank for our customers and colleagues. We’re investing in the technology and platforms that strengthen how we serve customers, and we’re giving our colleagues the tools and training to adapt, succeed and benefit from the opportunities AI brings. We’re integrating AI across our operations, often in partnership with leading technology firms," he said.

Re-disseminated by Wealth and Society