Hong Kong regulators join forces to promote generative AI sandbox ++

The Hong Kong Monetary Authority, Securities and Futures Commission, Insurance Authority, and Mandatory Provident Fund Schemes Authority, in collaboration with Hong Kong Cyberport Management Company Limited, have jointly launched a Generative Artificial Intelligence (Gen AI) Sandbox ++ program aimed at promoting AI applications in the financial sector. The program covers multiple areas including banking, securities, and asset management, focusing on risk management, anti-fraud, and customer experience. Participating institutions will receive regulatory guidance, technical support, and free access to AI supercomputing resources. This initiative aims to enhance the efficiency and competitiveness of Hong Kong's financial services