Financial sector

Hong Kong is preparing to issue its first-ever guidance framework on the use of artificial intelligence (AI) in the financial sector, covering the ethical use of AI and general principles for its application in the financial sector, to promote its use in areas such as trading, investment banking and cryptocurrencies, Bloomberg reported, citing sources. Still drafting and consulting the industry Staff are still drafting the document while consulting the industry, and the framework is expected to consolidate various detailed guidelines from banking and securities regulators, as well as be announced at the Hong Kong FinTech Week, which will be held from Oct. 28 to Nov. 1, the report noted. A spokesman for the Financial Services and the Treasury Bureau, on the other hand, said in a ...