Under the five-year plan called Fintech 2030 that starts this year, the HKMA would expand the scope of the city’s generative AI sandbox to include more industries as a step towards enhancing risk management, fraud detection and customer experience, chief executive Eddie Yue Wai-man told the Post in a written interview.
“The diversity of perspectives from various sectors can lead to more creative and effective solutions, particularly in the rapidly evolving field of AI. Different sectors also have access to different types of data, which can be valuable for training and improving AI models.”
Fintech 2030 marked the third stage of the city’s fintech strategy for the financial sector, following earlier initiatives in 2021 and 2017.
Citing an example of potential collaborations, Yue said a bank had partnered with a telecommunications service provider to explore cross-sectoral anti-fraud measures. He did not identify the two firms.
