The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority (HKMA), the Securities and Futures Commission (SFC), the Insurance Authority (IA), and the Mandatory Provident Fund Schemes Authority (MPFA), in collaboration with the Hong Kong Cyberport Management Company Limited (Cyberport), announced today (August 27) the first cohort of the Generative Artificial Intelligence (GenA.I.) Sandbox++ (Note 1).
      
     From nearly 100 proposals received, 36 use cases have been selected for the first cohort of the GenA.I. Sandbox++, involving 30 financial institutions and 27 technology partners (see Annex). All the proposals were prioritised based on innovation, technical complexity and potential value to the financial industry, as well as advice provided by a selection committee comprising academic experts (Note 2).
      
     This cohort will focus on agentic AI applications. The selected use cases go beyond content generation, further exploring how AI can responsibly take on greater autonomy. The testing will cover end-to-end processes such as customer onboarding, payments, insurance claims and customer interactions. Moreover, building on the "AI vs AI" theme in previous GenA.I. Sandbox cohort, the latest pilots will further examine how AI can provide dynamic oversight of the actions taken by other AI applications.
      
     The Chief Executive of the HKMA, Mr Eddie Yue, said, "We are delighted to foster more innovative partnerships between a wide range of financial institutions, in addition to banks, and technology companies. These partnerships are unlocking the potential of agentic AI to create new opportunities. Through the GenA.I. Sandbox++, the HKMA will continue to promote cross-sectoral and ecosystem collaboration. Together we will shape the future of financial services and strengthen Hong Kong's position as an international financial centre and innovation hub."
      
     The Chief Executive Officer of the SFC, Ms Julia Leung, said, "The financial industry's exploration of agentic AI marks a pivotal step forward in developing a future-ready Hong Kong market, where greater system autonomy is underpinned by sound governance and clear accountability. The GenA.I. Sandbox++ initiative gives firms opportunities to test their use cases in a controlled environment, with direct supervisory engagement from an early stage. We look forward to leveraging the profound insights from these trials to empower the broader market transformation."
      
     The Chief Executive Officer of the IA, Mr Clement Cheung, said, "I am very impressed by the quality and diversity of proposals originating from the insurance industry which reflect a commitment to deploy advanced technologies for the betterment of policyholders. The GenA.I. Sandbox++ has inspired new ideas, generated practical insights and deepened cross-sector collaboration. The IA will strive to reinforce the position of Hong Kong as an international innovative and technology centre under the National 15th Five-Year Plan through progressive expansion of the AI Cohort Programme."
      
     The Managing Director of the MPFA, Mr Cheng Yan-chee, said, "We welcome the cross-sector collaboration fostered by the GenA.I. Sandbox++, which brings together financial institutions and technology firms to explore practical applications of GenA.I. for the industry. We are pleased that mandatory provident fund (MPF) trustees and intermediaries are participating in this initiative to test GenA.I. applications that enhance operational efficiency and engagement with scheme members, while further facilitating the responsible use of GenA.I. and protection of MPF scheme members' interests."
      
     Participants will be onboarded to the designated platform managed by Cyberport's Artificial intelligence Supercomputing Centre, with technical trials commencing later this year.
     
Note 1: For details about the GenA.I. Sandbox++: www.hkma.gov.hk/eng/news-and-media/press-releases/2026/03/20260305-3

Note 2: The Programme Director, MSc/PgD in Financial Technology, Faculty of Engineering, and Professor of Practice in Financial Technology, Department of Systems Engineering and Engineering Management, The Chinese University of Hong Kong, Professor Chan Chun-kwong; Vice-President for Administration and Business and Chair Professor of Information Systems, Business Statistics and Operations Management, The Hong Kong University of Science and Technology, Professor Tam Kar-yan; the Chief Information Officer, Information Technology Services Office, The Hong Kong University of Science and Technology, Dr Samuel Kwan; and the Master Programme Director and Professor, School of Computing and Data Science, The University of Hong Kong, Professor Yiu Siu-ming

Ends/Thursday, August 27, 2026
Issued at HKT 16:30

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