HSBC Rolls Out AI Ecosystem for Private Bankers
London-based HSBC has launched a new digital ecosystem for its private banking unit, powered by generative artificial intelligence.
HSBC Private Bank has launched «Wealth Intelligence» – a proprietary ecosystem powered by OpenAI’s large language model – for its client-facing staff, investment counsellors and product specialists, according to a statement.
The platform is designed to analyze and summarize the bank’s research reports and external news feed, which includes more than 10,000 data sources. This will then be translated into market insights and personalized investment strategies for clients.
Next Stage
In the next stage, the ecosystem will add capabilities in screening and identifying suitable products for the bank’s wealth management teams to discuss investment options and asset allocation recommendations with clients. Following its initial roll-out in Hong Kong and Singapore, Wealth Intelligence will also be scaled to more markets globally.
«Riding on our deep institutional knowledge and experience, our wealth management teams can now leverage these AI capabilities to spare more time to attend to our clients’ unique investment objectives and portfolio optimisation needs,» commented Gabriel Castello, CEO of HSBC Global Private Banking a.i.
