Hong Kong Monetary Authority unveils ART framework to support responsible AI adoption in banking

PANews, October 15 - The Hong Kong Monetary Authority today unveiled the "ART" framework to support the responsible adoption of artificial intelligence in the banking industry, with the aim of building an accountable, resilient and trustworthy A.I.-empowered banking ecosystem. Specific measures under the "ART" framework include: issuing the latest "Supervisory Guidance on the Responsible Use of Artificial Intelligence," which incorporates insights from the second phase of the Generative A.I. Sandbox; collaborating with Hong Kong Cyberport Management Company Limited and the University of Hong Kong to build an A.I. training data sharing platform, with data quality assurance as a core design principle; and further testing agentic A.I. applications through the GenA.I. Sandbox++, as well as publishing a discussion paper on a proposed regulatory framework for Agentic A.I. governance, exploring intent-based accountability arrangements, a register of significant A.I. agents, and effective intervention mechanisms.