HSBC Holdings today (20 January) announced a new strategic AI partnership with legal services provider Harvey AI, in a move, it says, that forms part of HSBC’s broader shift towards embedding AI across HSBC’s operations. This is a major win for Harvey, which already works with a number of large corporates, but whose publicity to date has revolved significantly around its law firm customer wins. Corporate customers include leading science and tech company Merck, and investment firms KKR and Bridgewater.
It is not clear at the time of publishing how advanced the partnership is. HSBC said today that the pilot brings a cutting-edge legal AI platform into HSBC’s Global Legal function as part of the bank’s commitment to innovation and operational excellence. The bank emphasised that Harvey’s platform is purpose-built for legal teams who can leverage AI to accelerate responding to business needs while also supporting enterprise-grade controls and security aligned to regulatory expectations.
HSBC group chief legal officer Bob Hoyt said: “This is a significant step forward in how we deliver legal support across HSBC. This isn’t just about deploying new technology – it’s about reimagining how an in-house legal function can operate by combining the speed and efficiency of AI with the expertise and judgement of our legal professionals.
“It is an investment in a future where our lawyers can spend more time on strategic, high-value work to benefit our business colleagues and the customers they serve.”
Harvey AI’s chief executive officer Winston Weinberg said: “HSBC has a customer-centric mindset and a clear plan to become an AI fluent organisation. As part of this ambition, the Legal team is moving towards a more AI-enabled operating model that will help them deliver for the business – and by extension their customers – by becoming more data-driven, efficient and effective.”
We’ll update this story as we get more details.
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