The Hong Kong Securities and Futures Commission (SFC) has published a keynote speech by Chairman Kelvin Wong stressing that artificial intelligence (AI) can support human judgment but cannot assume responsibility for decisions. At the Hong Kong Securities Association’s 47th Anniversary Financial Innovation Forum, Wong outlined three priorities: visibility over AI use, effective human oversight and the ability to question AI outputs. The remarks echo the focus on accountability and oversight discussed in September by SFC Chief Executive Officer Julia Leung, who raised the possibility of further guidance for agentic AI. Boards and senior management should understand where AI is used, what judgments it makes and the associated risks. AI should sit within firms’ overall governance and risk management frameworks rather than remain solely an information technology project. Major decisions affecting client interests, investments, risk taking or compliance should retain effective human oversight. Staff should be able to challenge AI outputs and recognize when they cannot rely on AI alone. Management should also be able to explain to boards, clients and regulators why AI is used, how risks are managed and who is responsible if problems arise.
Hong Kong SFC Chairman Kelvin Wong stresses human accountability and oversight in AI governance
Hong Kong Securities and Futures Commission Chairman Kelvin Wong stressed that people remain accountable for AI decisions in a keynote speech at the Hong Kong Securities Association’s financial innovation forum. He outlined priorities for management visibility, effective human oversight and staff’s ability to challenge AI outputs. The remarks reinforce the regulator’s earlier emphasis on governance and accountability as AI use expands.