The Hong Kong government is set to release new policies for the finance sector regarding the utilization of artificial intelligence by the end of October. The aim is to boost the use of AI in traditional trading, investment banking, and cryptocurrency markets. The Financial Services and the Treasury Bureau (FSTB) will establish a framework for the ethical use of AI in finance. Officials are currently working on the policy document with industry feedback. The guidelines will be finalized and presented at the Hong Kong FinTech Week event in late October. Due to the US-China tech conflict, certain AI tools like OpenAI’s ChatGPT and Google’s Gemini are restricted in Hong Kong, prompting a focus on local AI development. The Hong Kong Monetary Authority (HKMA) has also issued principles for generative AI use in consumer applications to ensure governance, transparency, and data protection. Read more AI-generated news on: https://app.chaingpt.org/news

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