📋 Tender Overview
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 GenAI Sandbox Note 1
From nearly 100 proposals received 36 use cases have been selected for the first cohort of the GenAI 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 endtoend processes such as customer onboarding payments insurance claims and customer interactions Moreover building on the AI vs AI theme in previous GenAI 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 GenAI Sandbox the HKMA will continue to promote crosssectoral and ecosystem collaboration Together we will shape the future of financial services and strengthen Hong Kongs position as an international financial centre and innovation hub
The Chief Executive Officer of the SFC Ms Julia Leung said The financial industrys exploration of agentic AI marks a pivotal step forward in developing a futureready Hong Kong market where greater system autonomy is underpinned by sound governance and clear accountability The GenAI 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 GenAI Sandbox has inspired new ideas generated practical insights and deepened crosssector collaboration The IA will strive to reinforce the position of Hong Kong as an international innovative and technology centre under the National 15th FiveYear Plan through progressive expansion of the AI Cohort Programme
The Managing Director of the MPFA Mr Cheng Yanchee said We welcome the crosssector collaboration fostered by the GenAI Sandbox which brings together financial institutions and technology firms to explore practical applications of GenAI for the industry We are pleased that mandatory provident fund MPF trustees and intermediaries are participating in this initiative to test GenAI applications that enhance operational efficiency and engagement with scheme members while further facilitating the responsible use of GenAI and protection of MPF scheme members interests
Participants will be onboarded to the designated platform managed by Cyberports Artificial intelligence Supercomputing Centre with technical trials commencing later this year
Note 1 For details about the GenAI Sandbox wwwhkmagovhkengnewsandmediapressreleases202603202603053
Note 2 The Programme Director MScPgD 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 Chunkwong VicePresident 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 Karyan 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 Siuming
Attachment
Annex
