HSBC has announced a multi-year partnership with Google Cloud to accelerate the deployment of artificial intelligence (AI) and agentic AI capabilities across its global operations.

The collaboration, unveiled alongside the Google Cloud Summit in London, will combine HSBC’s banking expertise with Google Cloud’s AI infrastructure, including Gemini models, the Gemini Enterprise Agent Platform, and support from Google DeepMind engineers. HSBC expects the initiative to support more than 200 new AI use cases over the next two years.

According to HSBC, the program is expected to generate more than $100 million in value through a combination of revenue opportunities and operational efficiencies. The initiative builds on the bank’s existing technology footprint, with more than 600 HSBC applications already running on Google Cloud.

A key area of focus will be AI-powered wealth management, where HSBC plans to combine AI-driven insights with the expertise of relationship managers to deliver more personalized financial guidance and proactive support for customers.

The partnership will also strengthen financial crime risk management through the use of generative and agentic AI technologies. HSBC said it aims to improve early risk detection and intervention capabilities across the nearly one billion transactions it monitors each month for potential signs of financial crime.

The bank will also expand AI-powered tools for employees, including decision-support assistants designed to reduce administrative work and accelerate client preparation processes for frontline teams and relationship managers.

“AI is becoming one of the defining technologies of our time, allowing us to create a personalized experience for each customer, delivered in real time and at scale, while keeping human judgment, decision-making, and accountability at the core,” said Georges Elhedery, HSBC Group CEO.

“A partnership like this one with Google Cloud helps us empower our colleagues with the tools they need to be future-ready and supports our work in building a simple, agile, faster, and more personal HSBC,” he added.

Google Cloud CEO Thomas Kurian described the collaboration as a model for the future of financial services, stating, “Our partnership with HSBC is a blueprint for the future of the financial services industry. By accelerating AI adoption built with Gemini, our Gemini Enterprise Agent Platform, forward-deployed engineers, and Google DeepMind’s research expertise, HSBC is building a more intelligent, resilient, and responsive bank that can create meaningful value for its customers.”