Regulators select 36 use cases involving dozens of financial institutions and tech partners to test AI use in onboarding, payments, claims and customer service
Hong Kong’s financial regulators have selected the first batch of projects for an expanded generative artificial-intelligence (GenAI) testing programme spanning banking, securities, insurance and pensions, as the city explores the use of more autonomous AI agents in financial services.
GenAI Sandbox++programme, according to a joint statement on Thursday by the Hong Kong Monetary Authority (HKMA), Securities and Futures Commission (SFC), Insurance Authority and Mandatory Provident Fund Schemes Authority.
The projects involve 30 financial institutions and 27 technology partners, with participants including Ant Bank (Hong Kong), WeChat Pay Hong Kong and HSBC Life (International).
Technical trials are expected to begin later this year on a platform managed by Cyberport’s Artificial Intelligence Supercomputing Centre, the statement showed.
The first cohort will focus on “agentic AI” – systems capable of carrying out tasks and making decisions with a greater degree of autonomy, and the trials will cover end-to-end processes including customer onboarding, payments, insurance claims and customer interactions, according to the statement.
HKMA chief executive Eddie Yue Wai-man said that the programme would foster partnerships between a wider range of financial institutions and technology companies, helping Hong Kong strengthen its position as an international financial centre and innovation hub.