The Hong Kong Monetary Authority (HKMA) announced the "ART" framework on October 15 to support the responsible application of artificial intelligence in the banking industry, aiming to build an AI-enabled banking ecosystem that is Accountable, Resilient and Trustworthy.
The HKMA noted that AI systems are becoming increasingly autonomous and are able to mobilize more data, tools and workflows. To help banks seize AI opportunities while maintaining sound governance and operational resilience, specific measures under the "ART" framework include: issuing the latest "Supervisory Guidance on Responsible Application of Artificial Intelligence," which incorporates insights gained from the second phase of the Generative AI (GenAI) Sandbox; collaborating with Cyberport and the University of Hong Kong to build an AI training data sharing platform, with data quality assurance as a core design principle; and further testing agentic AI applications through the "GenA.I. Sandbox++," as well as publishing a discussion paper on a proposed regulatory framework for agentic AI governance, exploring "intent-based" accountability arrangements, a register of important AI agents, and effective intervention mechanisms.
The HKMA also co-hosted the "Fintech + A.I." Forum with Cyberport on October 15 and 16, marking the successful completion of technical testing under the second phase of the GenAI Sandbox with positive results. More than 60% of the use cases involved exploring agentic AI, reflecting the industry's active push to adopt advanced AI systems, such as automated planning and the execution of multi-step tasks within authorized and controlled boundaries.
HKMA Deputy Chief Executive Arthur Yuen said that AI's evolution from generative to agentic represents an important new phase of innovation in the banking sector. Under "Fintech 2030," the HKMA has introduced the "ART" framework, representing Accountability, Resilience and Trust, aiming to provide a clear foundation for banks to responsibly develop and deploy AI. By combining innovation, clear accountability arrangements, resilient operating models and effective human oversight, banks can fully realize the benefits of AI while maintaining trust and the stability of Hong Kong's financial system.
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