HSBC Private Bank has unveiled Wealth Intelligence, a generative AI-powered ecosystem, designed to enhance the capabilities of its wealth management staff. This new platform, powered by OpenAI’s Large Language Model, aims to provide clients with high-quality market insights and personalised investment strategies by analysing and summarising over 10,000 data sources, including the bank’s research reports and external news feeds.
Wealth Intelligence offers swift access to a wide array of reports from HSBC’s Chief Investment Office. It also integrates third-party product information, expanding its knowledge base. In future developments, the platform will assist wealth management teams in identifying suitable investment products and asset allocation recommendations for clients.
Gabriel Castello, CEO of HSBC Global Private Banking a.i., highlighted the importance of client relationships, stating, “With the rapidly-evolving financial markets, we understand our clients have stronger expectations for timely, trustworthy and personalised investment advice than ever.” He emphasised that the AI capabilities will allow wealth management teams to focus more on clients’ unique investment objectives.
Initially launched in Hong Kong and Singapore, Wealth Intelligence is set to expand to more markets globally. Lavanya Chari, Head of Wealth and Premier Solutions at HSBC, noted, “AI adoption is one of our core strategic pillars for enhancing our client experience at scale.” She added that the platform will help clients make better data-driven decisions.
This development marks a significant step in HSBC’s strategy to leverage AI for improving client services and optimising investment advice.
