One of the World’s Largest Banks Adopts Legal AI

HSBC, one of the largest banks in the world, announced that they are partnering with Harvey AI to “increase business efficiencies, increase speed of execution, and better serve customers.”

By total assets, it is Europe’s largest bank and consistently ranks among the top ten globally, with over $3 trillion in assets. Its legal operations span jurisdictions, regulators, and enforcement regimes where consistency and risk control are non-negotiable.

That scale is what makes HSBC integrating Harvey AI into its legal platform notable. Changes to legal infrastructure at this level are typically deliberate and closely evaluated.

Large financial institutions rely on legal operations built around accuracy, repeatability, and coordination across regions. Integrating AI into that framework reflects how legal work is increasingly being supported as volume and complexity continue to grow. The announcement itself is limited in detail, but the setting provides a useful perspective.

Moves like this will affect outside counsel. Once clients are moving faster internally, that speed will ultimately change the turnaround expectations from their lawyers.

Client data also plays a larger role. Matter histories, recurring issues, and spending patterns become easier to examine when reviewed systematically. As visibility improves, legal departments gain a clearer understanding of where time is spent and how outcomes align with cost. Those insights will influence conversations with outside counsel.

As more preliminary analysis is handled internally, the nature of value becomes more defined, and clients will have better judgment. Soon enough, charging clients $1750/hr for several hours of work that can be done with the push of a button will not be tolerated.

The shift in client expectations shows up differently across a firm. Leadership encounters it through workflow and cost discussions, while partners see it in heightened expectations around responsiveness and precision. Associates experience a shift in which work is valued most, while boutique and value-based platforms are often structured to match these expectations.

Highly regulated institutions tend to adjust infrastructure cautiously. HSBC’s announcement is what’s often referred to as “a sign of the times.” Outcomes remain the measure clients rely on, but the tools supporting those outcomes continue to evolve rapidly. More and more companies and industries will be swapping out the inefficiencies of old for better overall value. Frankly, the swap is becoming easier every day.

Ayven Dodd advises attorneys, law firms, and investors on legal recruiting and M&A. He also serves as a career strategist for partners, counsel, and groups. Reach him at ad@sheltonsteele.com