The Hong Kong Institute for Monetary and Financial Research (HKIMR), the research arm of the Hong Kong Academy of Finance established in collaboration with the Hong Kong Monetary Authority and other Hong Kong regulators, released an applied research report on Generative AI (GenA.I.) in financial services, outlining considerations to facilitate responsible adoption in Hong Kong. Drawing on a survey and interviews with market participants, the report finds GenA.I. adoption is progressing steadily, with 75% of surveyed financial institutions already implementing at least one GenA.I. use case or currently piloting and designing use cases and exploring potential investment areas, rising to an expected 87% within the next three to five years. It highlights key constraints including concerns over model accuracy, data privacy and security, and resource and talent limitations, while noting that less resource-intensive models, maturing technology and regulatory engagement are likely to support broader uptake over time.
Hong Kong Monetary Authority 2025-04-09
Hong Kong Monetary Authority collaborative HKIMR report finds 75% of local financial institutions are implementing or piloting generative AI use cases
The Hong Kong Institute for Monetary and Financial Research released a report on Generative AI in financial services, highlighting its steady adoption among financial institutions in Hong Kong. The report identifies key constraints such as model accuracy, data privacy, and resource limitations, while noting that technological advancements and regulatory engagement may facilitate broader adoption.