HSBC commissions French start-up Mistral to advance the introduction of generative AI

Under the agreement, HSBC will provide Mistral’s commercial models and future upgrades on a self-hosted basis, combining its internal technology expertise with Mistral’s modeling.

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Both companies will work together to develop AI solutions for tasks ranging from financial analysis and multilingual translation to risk assessments and personalized customer communications.

The London-listed bank said the tools could dramatically reduce the time staff spend on routine tasks, such as allowing credit and finance teams to analyze complex, document-intensive deals much more quickly.

HSBC is already running hundreds of AI use cases globally across fraud detection, transaction monitoring, compliance and customer service…