PANews reported on August 20 that according to Cointelegraph, the Hong Kong Monetary Authority (HKMA) has issued guidelines for the use of generative artificial intelligence in consumer-facing applications to protect the safety of end users. In a circular issued to authorized institutions mainly composed of banks, the Hong Kong Monetary Authority, Hong Kong's central bank agency, reformed its existing four-pillar guidelines on the use of generative artificial intelligence (GenAI). These new principles are added to the four core pillars originally introduced for big data analysis and artificial intelligence in November 2019 - governance and accountability, fairness, transparency and disclosure, and data privacy and protection.