The new initiative is aligned with the regulator’s recent focus on highlighting the transformative potential of AI across the financial industry to encourage its widespread adoption.
The new Sandbox will:
- Allow firms to identify how AI can enhance risk management, anti-fraud measures, and customer experiences.
- Enable firms to test novel GenAI use cases within a risk-managed framework, supported by essential technical assistance and targeted supervisory feedback from the HKMA;
- Inform the HKMA on the operationalisation of AI across financial services when publishing good practice recommendations and relevant guidance for firms; and
- Bolster regulator-industry engagement.
Get in touch with us today to learn how Plenitude Hong Kong can enhance your firm’s FCC framework through AI enquiries@plenitudeconsulting.com