Hong Kong Securities and Futures Commission Chairman Kelvin Wong stresses human judgment and accountability as AI reshapes wealth management

The Hong Kong Securities and Futures Commission (SFC) published a keynote by Chairman Kelvin Wong arguing that human judgment and accountability become more valuable as artificial intelligence (AI) makes information and analysis widely accessible. Speaking at the Private Wealth Management Association’s Wealth Management Summit 2026, Wong framed AI adoption primarily as a governance question: who exercises judgment, provides meaningful oversight and takes responsibility for advice. He referred to the recent Large Firm AI Readiness Survey, which identified accountability, human oversight and external dependencies as challenges to expanding AI use. This emphasis aligns with the SFC’s previously outlined plans for guidance on AI applications with greater autonomy. For wealth managers, the practical message was to redesign working practices and invest in people rather than simply acquire technology. Advisers will need to question AI outputs and recognise their limitations, while concentrating human effort on complex decisions, succession planning and trusted client relationships. AI can expand service capacity, but responsibility for the consequences of recommendations remains human. Wong also highlighted expanding family offices and changing client expectations as opportunities for Hong Kong’s wealth industry, which has approximately USD 2.9 trillion in assets under management. Mainland China already accounts for more than half of private wealth management assets under management in Hong Kong.