HSBC announced on Monday that it has signed a multi year agreement with the French start up Mistral AI. The bank plans to integrate generative artificial intelligence tools across its global operations to improve automation, increase productivity and strengthen client services.
As part of the agreement, HSBC will use Mistral’s commercial models and future upgrades on a self hosted setup. This will allow the bank to combine its internal technology capabilities with Mistral’s model development expertise.
Both organisations will work together to create AI solutions that support financial analysis, multilingual translation, risk assessment and personalised client communication.
The bank said the tools could significantly reduce the time employees spend on routine tasks. For example, credit and financing teams will be able to review complex and document heavy deals much faster.
HSBC already uses hundreds of AI applications across fraud detection, transaction monitoring, compliance and customer support. The bank expects the new partnership to shorten innovation cycles and help launch new AI powered features more quickly.
This move comes as banks around the world continue to adopt generative AI, even though there are ongoing concerns about data privacy. HSBC said it will use Mistral’s technology within its existing responsible AI governance framework to ensure transparency and protect data.
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