Bloomberg: Hong Kong is expected to release its first policy statement on the application of artificial intelligence in the financial sector during Fintech Week in late October

Bloomberg quoted sources as saying that the government is preparing to issue the first policy statement on the application of artificial intelligence in the financial sector, which could catalyze the application of the technology in areas such as trading, investment banking and cryptocurrencies. Officials are expected to release the statement during Fintech Week around late October. The report quoted sources as saying that Hong Kong's Financial Services and the Treasury Bureau plans to issue a framework of guidelines on the ethical use of artificial intelligence and general principles for the application of the technology in the financial sector. Officials are still drafting the document while seeking feedback from the industry. A spokesperson for Hong Kong's Financial Services and the Treasury Bureau said in a statement that the Hong Kong government and financial regulators are closely monitoring market developments and global experience to promote the responsible use of artificial intelligence in the financial industry, and are expected to issue a policy statement later this year outlining its policy stance and guidelines for the application of artificial intelligence in financial marekt.