HSBC to set up AI and emerging tech institute in Hong Kong's Northern Territory
HSBC plans to establish a global artificial intelligence and emerging technology research institute in Hong Kong's Northern Territory, set to launch early next year. The institute will collaborate with academic and technology partners including the Hong Kong University of Science and Technology, foc
HSBC has announced plans to establish a global "artificial intelligence and emerging technology research institute" in Hong Kong's Northern Territory, with operations expected to begin early next year. The institute will develop new and innovative technologies for application across the group's various businesses.
The bank said the institute will collaborate with academic and technology partners, including the Hong Kong University of Science and Technology, with the possibility of additional technology partners joining in the future.
In its initial phase, the institute will focus on talent upskilling, artificial intelligence security and fraud detection, post-quantum cryptography and blockchain. It will combine research capabilities with technology application teams to provide HSBC with new technological capabilities, driving promising innovations from research to practical implementation and widespread application across various business areas.
HSBC said the institute's location in the Northern Territory reflects the group's commitment to Hong Kong's long-term development and supports the city's goal of becoming an international innovation and technology hub. The bank added that the institute aims to improve HSBC's services and operational standards to better serve customers, while also providing reference for banking-related technology engineering and strategy.
According to HSBC, a key focus area for the institute's near-term research work will be exploring how to effectively defend against and respond to new types of fraud in the era of agentic artificial intelligence.