HSBC Expects Over $100 Million Gains From Using Google AI Tools

HSBC Holdings Plc said it will use Alphabet Inc.’s Google Cloud to roll out artificial intelligence across its global operations, including through projects that can each generate more than $100 million in extra revenue or savings.

The multiyear partnership will enable more than 200 new AI use cases at HSBC over the next two years, according to a bank statement.

HSBC is among the first global banks to lay out how it plans to deploy AI to generate revenue and boost efficiency. The company will work with Google Cloud and Google DeepMind engineering teams to build new AI tools ...