HSBC plans to double its AI team in Hong Kong from 150 to 300 specialists over the next two to three years, according to the South China Morning Post.

The expansion follows reports that Hong Kong regulators questioned HSBC’s decision to establish an AI centre in Singapore, which will initially employ more than 100 specialists.

David Liao Yi-chien, HSBC’s Co-Chief Executive for Asia and the Middle East, outlined the plan on 15 October.

He also announced that the bank would establish a Hong Kong AI Institute in 2027.

Hong Kong remains central to HSBC’s AI investment

Liao described Hong Kong as HSBC’s home market and said it would remain central to the bank’s AI investment, alongside mainland China, the UK and the Middle East.

The Hong Kong team has developed tools to help relationship managers engage customers and improve case handling at its customer service centre.

The planned institute is expected to begin operations in early 2027, focusing initially on AI applications, post-quantum cryptography and blockchain.

Singapore AI hub draws regulatory scrutiny

In July, HSBC announced a Global AI Centre of Excellence in Singapore, with plans to recruit more than 100 AI specialists.

Its initial focus will include wealth management, agentic treasury solutions and AI-enabled digital payments.

At the Finance + A.I. Forum on 15 October, HKMA Deputy Chief Executive Arthur Yuen Kwok-hang emphasised the importance of clear accountability, resilient operating models and human oversight in maintaining trust as banks adopt AI.

Featured image credit: Edited by Fintech News Hong Kong, based on image by HSBC