HSBC to open Hong Kong AI institute in early 2027 as HKMA launches Project SAGE for AI agents

HSBC plans to launch an artificial intelligence and emerging technology institute in Hong Kong in the first quarter of 2027, chief executive Georges Elhedery said at Hong Kong's FinTech Week on Monday, Reuters reports via The Edge. The Hong Kong University of Science and Technology will be its anchor academic partner. Elhedery did not give headcount details, and said the bank would move the centre to Hong Kong's Northern Metropolis once its site there is ready.

The plan follows HSBC's AI centre in Singapore, announced in July, where the bank said it would hire more than 100 AI specialists. Elhedery said HSBC, which has 28,000 staff in Hong Kong, is rolling out AI training for its global workforce of roughly 200,000 people. "AI is going to be disruptive. It's going to transform jobs," he said.

At the same event, Hong Kong Monetary Authority chief executive Eddie Yue said the regulator will launch Project SAGE to support the use of AI agents in finance while setting guardrails. The HKMA will create a cross sector expert panel to test AI agent applications and interoperability, and will seek views on governance, accountability, a central register of trusted agents and a possible "know your agent" standard. Yue said around 80% of banks in Hong Kong already use AI or generative AI.