HSBC to open 50-person AI lab in Toronto

HSBC Holdings PLC is opening a new 50-person data lab in Toronto that will harness the city’s artificial-intelligence talent. The London-based global bank announced the lab at the Collision tech conference in Toronto on Wednesday.

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HSBC to open 50-person artificial intelligence lab in Toronto May 22, 2019 | News Stories Global bank HSBC Holdings PLC is opening a new 50-person data lab in Toronto that will harness the city’s artificial – intelligence talent.

The 3,376-sq-ft energy efficient lab will soon employ over 50 skilled AI professionals, technologists, co-op students, and interns, adding to the over 1,500 employees located in Toronto. Before setting its sights on Toronto, the international bank conducted a global search and chose Canada’s largest city for its interest, investment, and development of artificial intelligence (AI) and advanced machine learning.

Global bank HSBC Holdings PLC is opening a new 50-person data lab in Toronto that will harness the city’s artificial-intelligence talent. The London-based bank will announce the lab at the Collision tech conference in Toronto on Wednesday.

"Following the creation of our big data programme in 2018 and the recent opening of our global innovation and data labs in London and Toronto, our collaboration with Element AI represents the next step in our AI transformation at HSBC," says Andre Cronje, chief operating officer for GBM.

HSBC Launches London, Toronto Data & Innovation Labs. On 22 May 2019, HSBC announced it opened its first two data and innovation labs – in London and Toronto – in a bid to accelerate the development of innovative data, cloud and robotics solutions for clients of its Global Banking and Markets (GBM) division.

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HSBC has signed up Canadian software company Element AI after a five-month hunt for an Artificial Intelligence partner, amid an ongoing drive to deliver new products powered by insights from a.

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