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AI News from ET - Who is David Rice? HSBC’s first chief AI officer

Vishwadeep Khatri
in AI News & Two Lenses

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Rice, who has been with HSBC since 2006, was previously its COO for the corporate and institutional banking vertical. His appointment comes as the bank looks to streamline costs by incorporating GenAI across its verticals. The bank expects automation and process optimisation led by AI to help it increase the return on tangible equity to above 17% in 2026-28.

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