Artificial intelligence keeps HSBC ATMs stocked with cash

HSBC is replacing more manual processes, with artificial intelligence (AI) being used to automate when ATMs need to be refilled. The technology, developed by HSBC's operations and technology teams, has been trialled in Hong Kong, where the bank has 1,200 ATMs. The iCash AI technology has reduced ATM refills, which are done by third parties, by 15% – saving $1m. To calculate how much money is needed and where, iCash uses live ATM data and predictive machine learning algorithms that factor in seasonality, holidays, public events, location and recent withdrawal trends. The bank said it was a challenge to predict how much cash each ATM might need.