Hong Kong Considers Issuing a Rules Framework for AI Applications in the Financial Sector

Sept. 17 (Bloomberg) -- The Hong Kong government is preparing to issue its first policy statement on the application of artificial intelligence in the financial sector, a move that could catalyze the technology's use in areas such as trading, investment banking and cryptocurrencies, according to people familiar with the matter. Hong Kong's Financial Services and the Treasury Bureau plans to issue a framework of guidelines on the ethical use of AI and general principles for applying the technology in the financial sector, said the people familiar with the matter, who declined to be named because the information wasn't made public. Officials are still drafting the document while seeking feedback from the industry; details are still subject to change in the coming weeks, the people familiar with the matter said.