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. Through collaboration with the industry, they will share best practices based on the GenA.I. sandbox experience while ensuring relevant and appropriate regulatory guidance to align with the latest developments. Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, stated that the new GenA.I. sandbox is a groundbreaking initiative aimed at promoting responsible innovation in the banking sector with GenA.I. The sandbox will assist banks in testing various GenA.I. innovative use cases within a risk-controlled framework and provide the necessary technical support and targeted regulatory advice. The Monetary Authority encourages banks to fully utilize the sandbox to harness the potential of GenA.I. in enhancing risk management, anti-fraud, and customer experience.