“Global banking giant HSBC Holdings Plc is considering significant job reductions in the years ahead, as CEO Georges Elhedery bets on artificial intelligence to downsize middle and back offices, Bloomberg reported. The greatest impact is anticipated to be seen among non-client-facing positions in global service centers, but the evaluation is only in an early stage, according to…
Tag: HSBC
Alan Turing Institute to spend £60m from UK.gov on AI for air traffic control and banking
“The UK government will, to the tune of £60m, bankroll two major research projects led by the country’s national institute for AI, the Alan Turing Institute: one to automate air traffic control, and the other for banking services. The second funded scheme, dubbed the Prosperity Partnership Project, is a collaboration between the institute and HSBC….
How to balance trust and technology in banking
“In a report published last year exploring what the next decade holds for incumbents in the age of digital banking, HSBC suggested that this is a “common myth”, highlighting the growing landscape for collaboration between banks and fintechs and suggesting that ‘we are already in an era of innovative cross business collaboration which many would…
Here’s why machine learning is critical to success for banks of the future
“’We have 608 million transactions every month. Hence, with AI and machine learning we are able to identify a good transaction done by an innocent person versus transaction conducted by criminals,’ Prior to the advent of ML, decisions were made on a rule-based system, where the same criteria are applied across a broad customer segment,…
HSBC digital chief: ‘Unbelievable opportunities’ for AI in banking
“’Traditional banks have to lower the cost of running the bank,’ Bottomley, who joined HSBC in 2013 from Google, said on Monday. “We have to get a lot better at automation, productivity improvement.” “There are unbelievable opportunities for artificial intelligence and machine learning in banks,” Josh Bottomley said in a speech on Monday.” https://www.google.com/amp/s/uk.finance.yahoo.com/amphtml/news/hsbc-josh-bottomley-ai-banking-unbelievable-opportunities-135642666.html