Hong Kong - HKMA Publishes High Level Principles on AI

The HKMA has issued guidance in the form of high level principles on the use of artificial intelligence (AI) applications. The HKMA writes that it is issuing this guidance now as the results from a recent HKMA survey showed that many banks are adopting or planning to adopt AI applications, and the growing use of AI presents some new risk management challenges to banks. The guidance in the form of high level principles is due to the fact that the HKMA wants to ensure that there is flexibility in