News

Banking Technology Information Technology

Staff Reporter

, Hong Kong

Published:

3 months ago

236 views

Photo by Minghong via Wikimedia Commons. Apart from cropping the photo, no other edits were made. License: https://creativecommons.org/licenses/by-sa/4.0/deed.en

Hong Kong central bank launches gen AI sandbox

Banks are encouraged to make full use of the sandbox.

The Hong Kong Monetary Authority (HKMA) has collaborated with the Hong Kong Cyberport Management Company to launch a generative AI sandbox.

HKMA expects to draw insights from gen AI and share good practices during the sandbox.

The sandbox was launched at FiNETech2, an event co-hosted by the HKMA, Cyberport, and the FinTech Association of Hong Kong that highlights AI use in the financial industry. Over 300 professionals from the banking, securities, insurance, and technology sectors attended the event.

The GenAI sandbox will promote responsible innovation in gen AI across the banking industry, said HKMA chief executive Eddie Yue.

“It will empower banks to pilot their novel Gen AI use cases within a risk-managed framework, supported by essential technical assistance and targeted supervisory feedback,” Yue said.

Yue encouraged banks to make full use of this resource to unlock the power of GenA.I. in enhancing effective risk management, anti-fraud efforts and customer experience.”

Follow the link for more news on

Hong Kong Monetary Authority

Generative AI

Also Read

Standard Chartered launches digital request quote module Autoquote

Citi launches Token Services for Cash for institutional clients

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit