The Hong Kong Monetary Authority (HKMA) and Cyberport today announced the launch of a new Generative Artificial Intelligence (GenA.I.) sandbox. The initiative aims to foster responsible innovation and development of GenA.I. technologies within the banking sector.
By providing a controlled environment for banks to experiment with various GenA.I. use cases, the sandbox will support the industry in exploring potential applications to enhance risk management, fraud prevention, and customer experience. The HKMA will also offer technical support and regulatory guidance to ensure alignment with the evolving landscape.
Eddie Yue, Chief Executive of the HKMA, emphasized the groundbreaking nature of the sandbox, stating, “We encourage banks to fully utilize this platform to unlock the potential of GenA.I. and drive innovation within the financial industry.”
