Companies × risks
HSBC
HSBC deploys AI at scale with hundreds of use cases, developer coding assistants, and high-volume client interaction support, including a multi-year partnership with Mistral AI for access to commercial foundation models and integration of Google Cloud AML AI. It also develops internal ML models for banking applications.
We reviewed 9 public documents from HSBC and found it acknowledges 2 of 24 AI risks: weapons & cyberattacks and fraud & scams.
Sector: Finance and Insurance
Roles: AI deployer
AI risks HSBC acknowledges
- Weapons & cyberattacks: “One key area of focus is the increasing use of AI, which could be used to facilitate sophisticated cyber-attacks.” (HSBC 2024 Annual Report)
- Fraud & scams: “The accessibility and increasing sophistication of generative AI brings additional financial crime risks... there is also a risk that criminals use generative AI to perpetrate fraud, particularly scams.” (HSBC 2024 Annual Report)
Documents we reviewed
- HSBC - Navigating the AI Wave: Innovations in Commercial Payments (Other, 2025)
- HSBC - There's a risk in missing the AI opportunity (Other, 2025)
- HSBC Holdings plc Strategic Report 2024 (Annual report, 2025)
- HSBC 2024 Annual Report (Annual report, 2025)
- HSBC - Artificial Intelligence (AI overview & principles, 2025)
- Risk review - HSBC Holdings plc Annual Report and Accounts 2024 (Annual report, 2024)
- Transforming HSBC with AI (AI overview & principles, 2025)
- HSBC - Harnessing the power of AI to fight financial crime (Other, 2024)
- HSBC's Principles for the Ethical Use of Data and AI (AI overview & principles, 2024)