HSBC’s private bank has launched its Wealth Intelligence generative artificial intelligence ( AI )-powered ecosystem, for its client-facing staff members, investment counsellors and product specialists to provide its clients with quality market insights and personalized investment strategies.

The platform, powered by OpenAI’s large language model and built by the bank’s in-house developers, is designed to analyze and summarize the bank’s research reports and external news feed, currently comprising more than 10,000 data sources.

The ecosystem, the bank notes, offers fast and simple access to the comprehensive range of reports published by the bank’s chief investment office. With the bank’s open product platform, growing volume of third-party product information will also be progressively integrated in the ecosystem’s knowledge base.

In the next stage, the platform will be capable of screening and identifying suitable products for the bank’s wealth management teams to discuss investment options and asset allocation recommendations with clients.

Following its initial roll out in Hong Kong and Singapore, Wealth Intelligence will be scaled to more markets to serve the bank’s client needs globally.

“Client relationships are core to every private banker,” says Gabriel Castello, the bank’s CEO for global private banking a.i. “Riding on our deep institutional knowledge and experience, our wealth management teams can now leverage these AI capabilities to spare more time to attend to our clients’ unique investment objectives and portfolio optimisation needs.”

Lavanya Chari, the bank’s head of wealth and premier solutions, adds: “AI adoption is one of our core strategic pillars for enhancing our client experience at scale.”