HSBC taps AI to simplify procurement process

HSBC taps AI to simplify procurement process

HSBC has signed on to use Globality's artificial intelligence-based platform for sourcing and procurement of services.

The bank is tapping Globality's technology to let its business stakeholders do self-serve procurement, scoping projects in hours rather than days, matching their unique requirements to suppliers around the world.

Using the AI-based platform rather than mostly analog legacy systems will help HSBC save costs, increase collaboration and speed up decision making, claims Globality.

"Utilising AI technology and Globality’s “smart sourcing” process will ensure that all HSBC service providers, large or small, win projects in a transparent digital ecosystem where decisions are based solely on the merits of quality, results, costs, and performance," says Joel Hyatt, CEO, Globality.

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