HKMA Launches GenA.I. Sandbox at FiNETech2 Event

2024-08-13 20:18 Last Updated At：20:28

HKMA and Cyberport launch GenA.I. Sandbox to bolster AI adoption in financial sector

The following is issued on behalf of the Hong Kong Monetary Authority:

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HKMA and Cyberport launch GenA.I. Sandbox to bolster AI adoption in financial sector

HKMA and Cyberport launch GenA.I. Sandbox to bolster AI adoption in financial sector Source: HKSAR Government Press Releases

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HKMA and Cyberport launch GenA.I. Sandbox to bolster AI adoption in financial sector

HKMA and Cyberport launch GenA.I. Sandbox to bolster AI adoption in financial sector Source: HKSAR Government Press Releases

The Hong Kong Monetary Authority (HKMA), in collaboration with the Hong Kong Cyberport Management Company Limited (Cyberport), announced the launch of the new Generative Artificial Intelligence (GenA.I.) Sandbox today (August 13) at FiNETech2, the second edition of the FiNETech series.

Building on the momentum of the first successful inaugural event in April (Note 1), the HKMA, the Cyberport and the FinTech Association of Hong Kong co-hosted "FiNETech2 – Into the AI verse", highlighting the transformative potential of artificial intelligence (AI) in the financial industry. Supported by financial regulators (Note 2), industry associations (Note 3)as well as technology communities (Note 4), and powered by market experts (Note 5), FiNETech2 brought together over 300 professionals from the banking, securities, insurance, and technology sectors. By nurturing partnerships between financial institutions and AI solution providers, FiNETech2 showcased innovative AI technologies and explored potential applications in risk management, anti-fraud, customer services and process re-engineering.

During the event, the HKMA announced the launch of the new GenA.I. Sandbox. Through interactive engagement with the industry, the HKMA will draw insights from the GenA.I. Sandbox (Note 6)and share good practices, while keeping its guidance relevant and fit-for-purpose in the light of the latest development.

The Chief Executive of the HKMA, Mr Eddie Yue,said, "The new GenA.I. Sandbox is a pioneering initiative that promotes responsible innovation in GenA.I. across the banking industry. It will empower banks to pilot their novel GenA.I. use cases within a risk-managed framework, supported by essential technical assistance and targeted supervisory feedback. Banks are encouraged to make full use of this resource to unlock the power of GenA.I. in enhancing effective risk management, anti-fraud efforts and customer experience."

To adapt to the forthcoming changes, the HKMA is committed to capacity building and promoting responsible innovation in GenA.I., including a recent training session which was attended by over 120 financial professionals, focusing on practical AI adoption strategies in the financial industry. The HKMA is also conducting case studies on the latest international development of AI, including GenA.I., and will share good practices to encourage adoption.

The HKMA will organise additional editions of FiNETech in the coming months, focusing on the areas of Greentech and Distributed Ledger Technology (DLT), and continue to drive tangible progress in Fintech adoption by banks and other financial institutions.

Note 1:www.hkma.gov.hk/eng/news-and-media/press-releases/2024/04/20240426-4/

Note 2: The HKMA, the Securities and Futures Commission, the Insurance Authority and the Mandatory Provident Fund Schemes Authority.

Note 3: The Hong Kong Association of Banks and the FinTech Association of Hong Kong.

Note 4: Cyberport and the Hong Kong Science and Technology Parks Corporation.

Note 5: KPMG and Quinlan & Associates.

Note 6: Details of the GenA.I. Sandbox, including eligibility criteria and application process, will be announced in due course.

Families Celebrate Mid-Autumn Festival with Positive Parenting Event in Hong Kong

2024-09-14 19:50 Last Updated At：20:18

"Let's T.A.L.K. and Walk with Kids" stakeholder engagement event to promote positive parenting and strengthen family bonding held today

The Commission on Children (CoC), the Hong Kong Police Force (HKPF) and the Social Welfare Department today (September 14) jointly held the"Let's T.A.L.K. and Walk with Kids" stakeholder engagement and Mid-Autumn Festival celebration event under the theme of positive parenting and family bonding. Through a variety of parent-child interactive games, stress relief activities and sharing sessions, the event aimed at promoting positive parenting, enhancing family bonding and celebrating the Mid-Autumn Festival.

Over 80 participants from around 30 families with children participating in the Child Development Fund

and their family members attended the event. The Secretary for Labour and Welfare and Vice-chairperson of the CoC, Mr Chris Sun, together with ex-officio member of the CoC, the Commissioner of Police, Mr Siu Chak-yee, and the Director of Social Welfare, Miss Charmaine Lee, joined the event to cheer on the parents and children.

Mr Sun said that a harmonious family relationship is conducive to the healthy development of children, both physically and mentally. He encouraged parents to spend more time playing with their children and share quality parent-child moments together. Mr Siu hoped that the event, with a series of diverse and challenging parent-child interactive games, would provide participants with special family time together, and could promote positive and healthy family relationships. Miss Lee said that families are the cornerstone of society and the backbone of child protection. She encouraged families to develop stronger familial bonds and enhanced care so that a loving and harmonious environment can be built for the children.

As part of the "Walk with Kids" thematic campaign of the CoC, the stakeholder engagement event was conducted in the format of a day camp at the Junior Police Call Permanent Activity Centre and Integrated Youth Training Camp at Pat Heung. Non-official members of the CoC moderated the group sharing sessions, listening to parents sharing parenting experiences, and providing suggestions for practising positive parenting and enhancing family relationships. Under the guidance of the clinical psychologist from the HKPF, parents also learned and shared relaxation techniques with an aim to assist them in facing parenting challenges with a positive mindset amid their busy daily lives. Apart from a series of parent-child adventure and experiential activities, there was a lantern-making workshop to enhance interaction and collaboration between parents and their children, riding on the vibe of the Mid-Autumn Festival.

HKMA Launches GenA.I. Sandbox at FiNETech2 Event

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