Hong Kong Tests Generative AI in Financial Sector Trials

Hong Kong regulators have launched an ambitious project to test the use of generative AI in the financial sector. The GenAI Sandbox++ program involves 30 financial institutions and 27 technology partners, with technical trials set to begin later this year at the Cyberport Artificial Intelligence Supercomputing Centre.

The selected use cases cluster around three themes: risk management, anti-fraud systems, and customer experience. Agentic AI is the key technology powering these projects, allowing systems to autonomously execute multi-step tasks and make decisions along the way.

HKT Payment and Red Date Technology are developing a framework that uses decentralized identifiers (DIDs) and verifiable credentials to authenticate AI agents involved in payment transactions. This project represents an intersection of traditional finance and Web3 infrastructure, with a focus on authentication rather than using crypto assets or tokens.