Xu Zhengyu: The Hong Kong government will announce its policy stance and guidelines on the application of AI in the financial market later this year

The Secretary for Financial Services and the Treasury of Hong Kong, Christopher Hui, pointed out at the Beijing 2024 Zhongguancun Forum Fintech Parallel Forum that with the continuous evolution of artificial intelligence technology, the Hong Kong government will maintain an open attitude, closely monitor market development, and refer to domestic and foreign experiences to promote the responsible use of artificial intelligence in the financial industry. Later this year, the Hong Kong government will issue a policy statement outlining its policy stance and guidelines for the application of artificial intelligence in the financial market.

Hui also said that in terms of promoting the artificial intelligence technology ecosystem, Hong Kong Cyberport is setting up an artificial intelligence supercomputing center at full speed to assist research institutions and the industry in coping with computing power demands. The first-phase facilities are expected to be put into service as soon as this year. In addition, the Hong Kong government will allocate HKD 3 billion for a three-year artificial intelligence funding program to support universities, research and development institutions, and enterprises in using computing power to promote scientific research breakthroughs; strengthen the network security and data protection of computing centers; and conduct promotion and education activities to attract artificial intelligence experts, enterprises, and research projects from home and abroad to settle in Hong Kong.