Investment Banking

HSBC names Achtner to head up new AI push

Banks are increasingly turning to AI to automate people-heavy processes

'The team will focus on developing and commercialising cutting-edge, responsible AI technologies'
'The team will focus on developing and commercialising cutting-edge, responsible AI technologies' Photo: Chris J. Ratcliffe/Getty Images

HSBC has formed a new unit to focus on artificial intelligence, as large banks continue to focus on how to utilise technology that is expected to automate back-office processes in the sector.

The UK lender has created an Office of Applied Artificial Intelligence, a unit that has been brought into its wholesale data and analytics team.

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