Global bank HSBC Holdings PLC is opening a new 50-person data lab in Toronto that will harness the city’s artificial-intelligence talent.
With financial-technology or fintech companies encroaching on established banks worldwide, many of those banks have begun trying to disrupt the industry from within. Because banks are home to massive amounts of information on customers throughout their financial lives, many have been investing in artificial-intelligence technologies to help parse it all.Better understanding these client patterns means gaining the ability to predict when a client needs a product or service.
“Emerging technologies such as AI are becoming more prevalent and disruptive across financial services by the day,” said Chuck Teixeira, the chief administrative officer and head of transformation at HSBC Global Banking and Markets, in an e-mail to The Globe and Mail. “You only have to look at the disruption to other industries or the smaller examples in our industry, such as digital banking in China, that show the art of the possible.
GlobeTechnology HSBC are a bunch of criminals.
GlobeTechnology Great news!
GlobeTechnology AND SINCE HONG KONG SHANGHAI BANK CORP (HSBC) IS OWNED BY 'HUMAN RIGHTS ABUSING!!''COMMUNIST CHINESE GOVT ALL THE INFO THAT THE AI LAB GETS GOES RIGHT BACK TO CHINA!! BAN ALL COMMUNIST CHINESE BUSINESS IN CANADA!! DUMP ALL RELATED STOCKS BONDS ETC ETC TO 'WORLD+MILITARY
GlobeTechnology .... ZERO funding from the Ontario government though. So, yeah unless HSBC is fully funding it and reaping the benefits of the research findings, this is a pointless venture.