Hong Kong: HSBC to open AI institute in early 2027, with HKUST as anchor academic partner

HSBC is setting up an artificial intelligence and emerging technology institute in Hong Kong, stepping up its AI push in the city. Chief Executive Georges Elhedery announced at Hong Kong Fintech Week on Monday that the bank aims to launch the institute in the first quarter of 2027, Reuters reported.

The institute will work with the Hong Kong University of Science and Technology as its anchor academic partner, Elhedery said, though he did not disclose headcount details. He added that the bank would move the centre to Hong Kong's Northern Metropolis — a mega project bordering mainland China — as soon as its site there was ready.

The second step after Singapore

The Hong Kong plan follows the Asia-focused lender's announcement in July that it would hire more than 100 artificial intelligence specialists at an AI centre in Singapore. As Hong Kong's largest bank, HSBC's new institute extends its AI footprint across the region's two rival financial hubs.

How far AI has spread in Hong Kong banking

Around 80% of all banks in Hong Kong are already adopting AI or generative AI, Eddie Yue, chief executive of Hong Kong's de facto central bank, told the same conference. Yue said the Hong Kong Monetary Authority will create a cross-sector expert panel to test AI agent applications and interoperability.

HSBC has not disclosed the institute's headcount or investment. Recruitment and the research agenda will be the next things to watch as the first-quarter 2027 launch approaches.