Hong Kong Monetary Authority Introduces ART Framework for Banking Artificial Intelligence

According to China News Service, the Hong Kong Monetary Authority announced the ART framework in Hong Kong on October 15. The initiative promotes responsible artificial intelligence adoption across the banking industry to establish an AI-empowered banking ecosystem that is accountable, resilient, and trusted. The authority reported that technical testing under the second phase of its generative AI sandbox concluded with positive outcomes. Over 60% of sandbox use cases explored agentic AI, demonstrating active industry efforts to adopt advanced systems such as automated planning and multi-step task execution within authorized, controlled scopes. Hong Kong Monetary Authority Deputy Chief Executive Arthur Yuen stated that moving from generative to agentic AI marks a significant phase for banking innovation. He explained that the framework provides clear grounding for banks to responsibly develop and deploy AI, combining innovation with clear accountability, resilient operations, and effective human oversight. HSBC Asia and Middle East co-Chief Executive David Liao stated in an interview that HSBC concluded testing for two use cases in the authority's generative AI sandbox. One application converts text to sign language for hearing-impaired customers, while the other supports verification by identifying deepfake photos and altered documents.

HSBC tested two sandbox cases where generative artificial intelligence aids hearing-impaired customers by converting text to sign language, while also screening for deepfake photos and tampered documents during verification processes to help prevent fraud risks ahead of time.