【HSBC】HSBC Appoints David Rice as First Chief Artificial Intelligence Officer　Ai Qiao Zhi: AI Plays Key Role in Group's Achievement of Objectives

SocialAnxietyStaker · 2026-03-24T02:38:17+00:00

HSBC has appointed David Rice as Chief Artificial Intelligence Officer to promote AI applications that improve efficiency and customer service. The bank plans to implement generative AI tools throughout the organization and highlights the vital role of AI in achieving business goals such as increasing return on equity. This initiative may result in future layoffs, impacting around 20,000 jobs.

SocialAnxietyStaker

2026-03-24 02:38:17

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HSBC (00005)
Announces the appointment of David Rice as the first Chief AI Officer, effective April 1. HSBC stated that the new position will provide clear corporate leadership in AI applications to support its vision of building a future-oriented bank, by embedding AI solutions to benefit employees and customers.

▲ 【HSBC】HSBC appoints David Rice as the first Chief AI Officer. AiQiao Intelligence: AI plays a key role in achieving group goals

This appointment is part of HSBC’s broader effort to deploy AI extensively across the bank, aiming to provide all employees with generative AI tools to streamline processes, procedures, and policies, and equip customer-facing colleagues with the AI tools they need to deliver more personalized services.

Group CEO Georges Elhedery said that AI plays a crucial role in achieving the group’s goals. The goal is to save costs through automation and simplification of processes, increasing tangible equity return on investment to over 17% between 2026 and 2028.

In addition to appointing David Rice, HSBC also announced the expansion of Chief Technology Officer Mario Shamtani’s responsibilities to strengthen its technological foundation for large-scale AI deployment.

Earlier reports indicated that HSBC is considering large-scale layoffs in the coming years, with Elhedery betting on AI to reduce the size of back-office departments, particularly affecting non-customer service positions at HSBC’s global service centers. It is estimated that up to 20,000 jobs could be impacted, accounting for about 10% of its total staff.

Source: HSBC

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