Eddie Yue Wai-man, the Chief Executive of the HKMA, stated in a forum speech that he will guide the banking industry to use Gen AI in a responsible, fair, and ethical manner. He hopes that banks can carefully plan and assess risk limits before launching products, and take measures to manage them properly. The authorities have also required banks to conduct risk assessments on AI service providers.

He pointed out that there are still many unknowns in the actual application of Gen AI in the financial services sector, but it is developing at an unprecedented speed and may bring revolutionary impacts. The authorities will continue to closely monitor its development.

He mentioned that the demand for employees with AI skills in the banking industry is increasing day by day. Research on the potential skills gap for the banking industry in the next five years until 2030 will be released next year, hoping to help the industry better understand training needs and adjust talent development strategies in a timely manner.