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Arthur Yuen: HKMA Focuses on Effective AI Governance by Banks, to Issue Practical Application Guidelines
2026-09-25 14:53:06 HKMA Deputy Chief Executive Arthur Yuen said AI no longer only plays a supporting role in decision-making and operations, and hence the authority is focusing on how banks can effectively govern AI, enhance technological resilience, and ensure banking systems evolve in step with the environment. The HKMA will issue guidelines on practical applications to help banks translate principles of data excellence into concrete actions. He said AI can provide decision-making proposals and execute part of operational processes, but this does not mean every application scenario must be automated or autonomous. He believed final decisions and accountability should still rest with humans. The "Task Force on AI-Driven Cyber Risks" established several months ago brings together major participants from different financial sectors and cybersecurity experts to explore ways to strengthen the industry's cyber defense capabilities, he mentioned. ~ AASTOCKS Financial News Website: www.aastocks.com | |