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HKMA GenAI Sandbox Results Announced, Standard Chartered and HSBC Showcase AI Innovations
The Hong Kong Monetary Authority (HKMA)'s Generative AI (GenAI) Sandbox project has announced its results, with local banks such as Standard Chartered and HSBC showcasing various AI innovations. Among them, Standard Chartered's new platform, which was tested in the sandbox, can reduce the time to consolidate customer information from 4-5 hours to 1 minute. HSBC's deepfake detection tool successfully blocked approximately 20 attacks and plans to double the size of its AI expert team in Hong Kong within the next 2-3 years.
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