Hong Kong Monetary Authority unveils 'ART' framework for responsible AI use in banking
The Hong Kong Monetary Authority has launched an 'ART' framework to guide banks in responsibly adopting artificial intelligence, focusing on accountability, resilience and trust. Measures include updated regulatory guidance, an AI training data sharing platform, and a consultation on governance for
The Hong Kong Monetary Authority (HKMA) announced on Thursday (October 15) an "ART" framework to support the responsible adoption of artificial intelligence (AI) in the banking sector, aiming to build an AI-enabled banking ecosystem that is accountable, resilient and trustworthy.
As AI systems become more autonomous and can mobilise more data, tools and workflows, the HKMA said the framework is designed to help banks seize AI opportunities while maintaining sound governance and operational resilience. Specific measures under the framework include issuing updated regulatory guidance on responsible AI application, which incorporates insights from the second phase of the Generative AI (GenAI) sandbox.
The HKMA is also partnering 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. In addition, the "GenA.I. Sandbox++" will further test agentic AI applications, and a discussion paper will be published on a proposed regulatory framework for agentic AI governance, exploring intent-based accountability arrangements, a register of significant AI agents, and effective intervention mechanisms.
The HKMA and Cyberport co-hosted the "Finance + A.I." forum on October 15 and 16, marking the successful conclusion of the second-phase GenAI sandbox technical testing. More than 60 per cent of use cases involved exploring agentic AI, reflecting the industry's active advancement of sophisticated AI systems, such as automatic planning and executing multi-step tasks within authorised and controlled boundaries.
Arthur Yuen, Deputy Chief Executive of the HKMA, said: "AI's evolution from generative to agentic represents an important new phase in banking innovation. Under 'Fintech 2030', the HKMA has launched the 'ART' framework, which stands for accountability, resilience and trust, to provide a clear foundation for banks to develop and deploy AI responsibly. By combining innovation, clear accountability arrangements, resilient operating models and effective human oversight, banks can fully harness the benefits of AI while maintaining trust and the stability of Hong Kong's financial system."