HSBC said on October 15 that it plans to double its AI specialist team in Hong Kong from 150 to 300 in the next two to three years, above the staffing announced for its new Singapore AI center.

Asia and Middle East co-CEO David Liao Yi-chien also said the bank plans to launch the Hong Kong AI Institute next year.

HSBC had earlier said it would hire 100 AI specialists and 100 wealth managers in Singapore, where it is setting up a Global AI Centre of Excellence to develop the bank’s AI capabilities.

The move follows questions from Hong Kong officials about why HSBC put the new hub in Singapore. It also comes as the Hong Kong Monetary Authority (HKMA) has issued guidance on the use of generative AI in banking, including governance, risk controls, and customer protection.

🔗 Source: South China Morning Post

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