HSBC on Wednesday announced a multiyear partnership with Alphabet-owned Google Cloud to expand its artificial intelligence capabilities, focusing on areas such as wealth management advice and financial crime risk management. The partnership, part of CEO Georges Elhedery’s drive to embrace AI for revenue generation and cost savings, should enable 200 more tasks using AI over the next two years. HSBC will access Google’s Gemini model and is already running 600 applications on Google Cloud. Google Cloud and Google DeepMind engineering teams will help identify priority projects that could each deliver more than $100 million in revenue gains or efficiency improvements. The project targets three main areas: personalized wealth management support; financial crime risk management; and AI-empowered decision-making for frontline staff to reduce administrative time. Elhedery, who in May urged staff to embrace AI and warned the technology will “destroy certain jobs and create new jobs,” said the partnership helps empower colleagues with future-ready tools.