HSBC to set up Global AI CoE in Singapore in late-2026, plans to hire more than 100 AI specialists

Over the longer term, the CoE aims to build a talent pipeline across natural language processing, data science, AI governance and human-centred design.

HSBC has announced that it will be launching a Global AI Centre of Excellence (CoE) in Singapore in the second half of 2026, as part of efforts to develop artificial intelligence capabilities that can be scaled across its global network.

In an update earlier this week, the bank said that the CoE will initially focus on enhancing customer wealth journey conversations, introducing agentic treasury solutions, and developing AI-enabled digital payments.

As part of this, HSBC said it plans to hire more than 100 AI specialists who will be working alongside David Rice, its Chief AI Officer, and the teams responsible for areas such as wealth management and global payments solutions. Over the longer term, the CoE aims to build a talent pipeline across natural language processing, data science, AI governance and human-centred design. HSBC said it will also work with educational institutions and government bodies in Singapore as part of the initiative.

Commenting on the new CoE, Georges Elhedery, Group CEO, HSBC, said: "The new AI Centre of Excellence in Singapore will help drive our global AI vision – to empower our colleagues to use AI to create a personalised experience for each customer, deliver it safely, in real time and at scale, while keeping human judgement, decision-making and accountability at the core."

The launch builds on HSBC’s broader push towards large-scale AI adoption across its global operations. The bank appointed Rice as its first Chief AI Officer, effective 1 April 2026, giving him enterprise-wide responsibility for AI adoption.

According to HSBC, Rice’s remit includes expanding staff access to generative AI tools to simplify processes, streamline procedures and policies, and equip customer-facing teams with tools intended to support more personalised services.

"AI is going to play an ever-increasing role in HSBC’s future plans, so I am thrilled to take on this new role to help us drive forward our transformation agenda," Rice said at the time of his appointment.

HSBC had at the same time expanded the remit of Chief Technology Officer Mario Shamtani, as it seeks to strengthen its technology foundations and support the deployment of AI at scale.

The AI expansion came amid previous reports that HSBC is considering substantial job reductions over the coming years as part of a strategy to rely more heavily on AI in its middle- and back-office operations. Read the full update here.