Multi-year partnership will enable more than 200 new AI use cases for banks over the next two years
issued Wednesday, June 17, 2026 · 08:45 AM — Updated Wednesday, June 17, 2026, 9:35 a.m.
[NEW YORK] HSBC Holdings said it will use Alphabet’s Google Cloud to deploy artificial intelligence across its global operations and expects each project to generate more than US$100 million in revenue or efficiency gains.
The multi-year partnership will enable more than 200 new AI use cases for HSBC over the next two years, the bank said in a statement.
HSBC was one of the first global banks to discover how AI can be used to generate revenue and increase efficiency.
The company will work with Google Cloud and the Google DeepMind engineering team to build new AI tools and programs using Google’s latest agent AI capabilities, including Gemini models and Gemini Enterprise Agent Platform.
Sources said in March that the bank was considering cutting about 20,000 positions, or about 10% of its workforce, over the next few years because of AI.
Chief Executive Georges Erhedery said talent will remain at the heart of the bank even as the use of AI becomes more widespread, seeking to reassure employees after recent industry comments raised concerns about job security.
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JPMorgan Chase CEO Jamie Dimon said in December that the technology “will eliminate jobs.” Citigroup CEO Jane Fraser said some jobs “will no longer be needed,” and Goldman Sachs President John Waldron called workers a “human assembly line” ripe for automation. bloomberg
