The Hong Kong Monetary Authority (HKMA), together with the Hong Kong Cyberport Management Company Limited (Cyberport), has launched the second cohort of its Generative Artificial Intelligence (GenA.I.) Sandbox, providing a risk-controlled environment for banks to develop and test AI-enabled solutions. Building on the inaugural cohort that started in January, the programme continues to prioritise use cases aimed at strengthening risk management, anti-fraud measures and customer experience. The second cohort also broadens the agenda to explore “AI versus AI”, with banks encouraged to consider deploying AI within their second and third lines of defence for risk management and to address risks arising from AI advancements. A new GenA.I. Sandbox Collaboratory will run practical workshops to facilitate early engagement between banks and technology providers, translating problem statements into use cases for testing in the Sandbox. In response to deepfake-enabled scams, a dedicated workshop on using AI to combat deepfake attacks is scheduled for the coming weeks, bringing together experts from technology firms, digital banks and small and medium-sized banks.

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