According to PANews, the Hong Kong Monetary Authority (HKMA) has released new guidelines for the use of generative artificial intelligence (GenAI) in consumer applications to ensure user safety. The HKMA, which serves as Hong Kong's central banking institution, issued a circular to authorized institutions, primarily banks, outlining the updated principles for GenAI usage. These new guidelines are built upon the four core pillars initially introduced in November 2019 for big data analytics and artificial intelligence: governance and accountability, fairness, transparency and disclosure, and data privacy and protection.