The Hong Kong Monetary Authority, the Securities and Futures Commission, the Insurance Authority, and the Mandatory Provident Fund Schemes Authority, in collaboration with the Hong Kong Cyberport Management Company, announced the first cohort of the Generative Artificial Intelligence (GenA.I.) Sandbox++ on Thursday, with technical trials commencing later this year.
From nearly 100 proposals received, 36 use cases have been selected for the first cohort of the GenA.I. Sandbox++. There are 30 financial institutions and 27 technology partners in the list, including Hang Seng Bank, WeChat Pay Hong Kong, and Ant Bank (Hong Kong).
Participants will be onboarded to the designated platform managed by Cyberport's Artificial Intelligence Supercomputing Centre, according to a statement.
This cohort will focus on agentic AI applications, and the selected use cases go beyond content generation, further exploring how AI can responsibly take on greater autonomy, the government said.
Also, the testing will cover end-to-end processes such as customer onboarding, payments, insurance claims, and customer interactions.
Building on the "AI vs AI" theme in the previous GenA.I. Sandbox cohort, the latest pilots will further examine how AI can provide dynamic oversight of the actions taken by other AI applications.
Chief Executive of HKMA, Eddie Yue Wai-man, said, " These innovative partnerships between a wide range of financial institutions, banks, and technology companies are unlocking the potential of agentic AI to create new opportunities.
"The financial industry's exploration of agentic AI marks a pivotal step forward in developing a future-ready Hong Kong market, where greater system autonomy is underpinned by sound governance and clear accountability," said Julia Leung Fung-yee, CEO of SFC.
