HSBC announced it will open a global AI excellence centre in Singapore in the second half of 2026. The centre will focus on enhancing customer wealth journeys, treasury activities, and digital payments, and plans to recruit over 100 AI specialists. This initiative follows HSBC's recent multi-year deal with Google Cloud to deploy AI tools, which is projected to generate over 200 AI use cases and may lead to an AI-driven overhaul affecting up to 20,000 jobs.