Hong Kong Monetary Authority and Cyberport launch GenA.I. Sandbox to promote the application of artificial intelligence in the financial industry

The Hong Kong Monetary Authority and Cyberport announced the launch of a new generative artificial intelligence (GenA.I.) sandbox, and through exchanges and cooperation with the industry, reference will be made to the experience of the GenA.I. sandbox, share good practices, and ensure that there are relevant and appropriate regulatory guidelines to match the latest developments. Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, said that the new GenA.I. sandbox is a groundbreaking initiative aimed at promoting the responsible innovation and development of GenA.I. in the banking industry. The sandbox will assist banks in testing various innovative use cases of GenA.I. within a risk-controllable framework, and provide the necessary technical support and targeted regulatory advice. The HKMA encourages banks to make full use of the sandbox to unleash the potential of GenA.I. in improving risk management, anti-fraud and customer experience. (Jinshi)