Read More
HSBC (0005) is planning to set up a global AI & Emerging Technology Institute in Hong Kong in the first half of 2027, partnering with the Hong Kong University of Science and Technology (HKUST), chief executive Georges Elhedery said — following the bank's first global AI center in Singapore.
ADVERTISEMENT
SCROLL TO CONTINUE WITH CONTENT
Elhedery said at the Hong Kong FinTech Week x StartmeupHK on Monday that the bank is also aiming to open an institute in the Northern Metropolis as soon as the location is available by 2028.
This marks HSBC’s first academic partnership with HKUST, building various skills and human interest domain expertise in financial services to find and work on solutions, said Elhedery.
He said the bank will make a public announcement shortly.
HSBC launched a Global AI Centre of Excellence in Singapore in July, in which it was reported that its decision was partly to assure the Singaporean government, after the sale of the local insurance business, that HSBC remains committed to developing its operations in Singapore.
The new institute will develop new and innovative technologies that can be deployed across HSBC’s operations, with an initial focus on AI upskilling, AI safety, AI-enabled fraud detection and engineering optimization, post-quantum cryptography and blockchain, according to HSBC.
Elhedery said that the institute's establishment in the Northern Metropolis reflects the bank's commitment to Hong Kong's long-term development and supports Hong Kong's development into an international innovation and technology center.
He added that the institute aims to improve HSBC's service and operational standards, better serve customers, and provide a reference for the bank's related technical engineering and strategy.
He mentioned that a key focus area of recent R&D work is exploring how to effectively defend against and respond to new fraud methods in the era of agentic AI.
David Liao Yi-chien, HSBC's co-chief executive of Asia Pacific and Middle East, said Hong Kong offers an exceptional base to lead this work, combining deep financial-services expertise, world-class research capability, and strong connections across the Chinese mainland and international markets.
Nancy Ip Yuk-yu, president of HKUST, said the university aims to accelerate the translation of research into practical solutions with real-world impact through this collaboration, noting one immediate area of research and development will be how to ensure defensive preparedness against new attempts at fraud in the agentic AI world.
