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HKMA and Cyberport launch second cohort of GenA.I. Sandbox to accelerate AI innovation in financial sector (with photos)
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The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority (HKMA), in collaboration with the Hong Kong Cyberport Management Company Limited (Cyberport), announced today (April 28) the launch of the second cohort of the Generative Artificial Intelligence (GenA.I.) Sandbox initiative. The GenA.I. Sandbox aims to provide a risk-controlled environment for banks to develop and test innovative solutions using artificial intelligence (AI), further advancing the adoption of AI technology in the financial sector.

     Following the positive responses received in the inaugural cohort started in January this year, the second cohort will continue to focus on use cases that further enhance risk management, anti-fraud measures and customer experience. 

     As a step forward, a key addition to the second cohort is the introduction of the GenA.I. Sandbox Collaboratory (Collaboratory), a platform comprising a series of practical workshops that facilitates early engagements between banks and technology providers. These workshops are designed to drive the conversion of problem statements into practical use cases, which can then be trialled in the GenA.I. Sandbox. Specifically, in response to the growing threat of deepfake scams, a dedicated Collaboratory workshop on combatting deepfake attacks with AI will be held in the coming weeks, convening subject matter experts from tech firms, digital banks as well as small and medium-sized banks, to share actionable solutions and innovative detection tools.

     Deputy Chief Executive of the HKMA Mr Arthur Yuen said, "The launch of the second cohort of the GenA.I. Sandbox underscores our commitment to advancing responsible innovation in GenA.I. across the banking industry. Moving beyond validating use cases, this cohort also aims to examine the possibilities of 'AI versus AI'. Banks are encouraged to explore integrating AI into their second and third lines of defence for risk management, addressing the risks and challenges emerging from AI advancements while reaping the benefits."

     The launch was announced during the fifth edition of the FiNETech series (FiNETech5), which convened over 150 AI practitioners from the banking and technology sectors. The FiNETech event provided a platform for sharing initial insights from first cohort participants and expert perspectives on the latest GenA.I. developments, and inspired interested banks and technology providers about potential exploration of responsible innovation by participating in the second cohort of the GenA.I. Sandbox.
 
Ends/Monday, April 28, 2025
Issued at HKT 19:30
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The Executive Director (Banking Supervision) of the Hong Kong Monetary Authority, Ms Carmen Chu, delivers opening remarks at the fifth edition of the FiNETech series today (April 28), where the launch of second cohort of Generative Artificial Intelligence (GenA.I.) Sandbox and the establishment of GenA.I. Sandbox Collaboratory are announced.
The Hong Kong Monetary Authority, in collaboration with the Hong Kong Cyberport Management Company Limited, announced today (April 28) the launch of the second cohort of the Generative Artificial Intelligence Sandbox initiative. The fifth edition of the FiNETech series brings together over 150 banking and technology professionals to foster new partnerships and drive the adoption of artificial intelligence in the financial sector.
The Hong Kong Monetary Authority, in collaboration with the Hong Kong Cyberport Management Company Limited, announced today (April 28) the launch of the second cohort of the Generative Artificial Intelligence (GenA.I.) Sandbox initiative. First cohort participants of the GenA.I. sandbox share experience and practical insights during a panel discussion.
The Hong Kong Monetary Authority, in collaboration with the Hong Kong Cyberport Management Company Limited, announced today (April 28) the launch of the second cohort of the Generative Artificial Intelligence (GenA.I.) Sandbox initiative. Experts from the technology sector discuss the latest advancements in GenA.I. risk management.