HSBC Private Bank is set to implement OpenAI’s Large Language Model for its client-facing teams, including investment counselors and product specialists. This initiative aims to deliver enhanced market insights and tailored investment strategies for high-net-worth clients.
Developed by HSBC’s in-house team, Wealth Intelligence is engineered to analyze and summarize the bank’s extensive research reports and external news, pulling from over 10,000 data sources. Additionally, the bank’s open product platform will incorporate a growing array of third-party product information into its knowledge base.
Lavanya Chari, Head of Wealth and Premier Solutions at HSBC, emphasized that “the integration of AI is a fundamental aspect of our strategy to elevate client experiences on a large scale. Leveraging AI’s analytical capabilities and speedy data delivery, we are committed to enhancing our wealth management expertise, transforming operational workflows, and enriching client journeys. This will empower our clients to make informed, data-driven decisions that align with their financial goals.”
In its upcoming phases, Wealth Intelligence will be equipped to screen and recommend suitable products for the bank’s wealth management teams, facilitating effective discussions on investment opportunities and asset allocation strategies with clients.
After a successful initial launch in Hong Kong and Singapore, the platform will gradually expand to additional global markets.