Four regulatory bodies including the Hong Kong Monetary Authority jointly launch GenA.I. Sandbox++ with Cyberport

Techub News, the Hong Kong Monetary Authority, the Securities and Futures Commission, the Insurance Authority, and the Mandatory Provident Fund Schemes Authority, in collaboration with Hong Kong Cyberport, announced today the launch of the Generative AI (GenA.I.) Sandbox++. Building on the successful experience of the GenA.I. Sandbox launched in 2024, this initiative expands coverage to multiple financial sectors including banking, securities and capital markets, asset and wealth management, insurance, mandatory provident funds, and stored value facilities. It focuses on three key areas: risk management, anti-fraud, and customer experience, and advances the "A.I. vs. A.I." strategy to manage A.I. application risks. Participating institutions will receive targeted regulatory guidance, technical support, and free access to GPU computing resources at the Cyberport AI Supercomputing Centre. This allows them to develop and test industry-specific or cross-sector A.I. applications in a risk-controlled environment, such as intelligent customer chatbots, fraud detection systems, insurance underwriting and claims processes, and investment product suitability assessments.