Under the agreement, HSBC will combine its internal technology capabilities with Mistral AI’s expertise in foundational model development. This will enable the bank to enhance current AI initiatives through self-hosted AI models that operate on HSBC’s internal technology systems.Initially, the bank plans to use Mistral’s AI expertise to enhance its internal tools, including an AI-powered platform used by staff globally to help with productivity improvements across marketing communications, document analysis, translation services and agile development.Future areas of focus for HSBC will include customer-facing innovations, such as improvements to credit and lending processes, enhancing customer onboarding, and fraud and anti-money laundering checks.Georges Elhedery, group CEO, HSBC, says:“Working with Mistral is an exciting step forward in HSBC’s technology strategy, enabling us to further enhance AI capabilities across the bank. The partnership will equip our colleagues with tools to help them innovate, simplify daily tasks, and free up time to deliver for our customers.”