Hong Kong Monetary Authority announces the list of participants in the second phase of the GenA.I. Sandbox, further promoting responsible AI applications.

On October 15, the Hong Kong Monetary Authority and Hong Kong Cyberport Management Company Limited (Cyberport) announced the list of participants for the second phase of the Generative Artificial Intelligence (GenA.I.) Sandbox. Building on the experience of the first phase, the new phase of the Sandbox marks the industry's transition from exploring the possibilities of AI towards promoting the safe and reliable application of AI. Out of over 60 proposals, 27 use cases from 20 banks and 14 technology partners were invited to participate in the second phase of the GenA.I. Sandbox. During the review process, all proposals were ranked based on their level of innovation, the complexity of the technology, and their potential value to the industry. The focus of the second phase of the Sandbox is on enhancing AI governance, with multiple use cases utilizing AI-to-AI strategies, such as using AI to automatically check the quality of AI-generated content at scale to improve system accuracy and consistency. As the risks of deepfake fraud continue to rise, the Sandbox also provides a testing ground for developing innovative defense mechanisms. Some participants will use AI for simulated attack and defense testing to strengthen systems against more sophisticated digital fraud techniques. Arthur YUEN, Deputy Chief Executive of the Monetary Authority, stated that the second phase of the GenA.I. Sandbox is an important step towards achieving safer and more robust AI applications. The participation of banks of different types reflects the transformative potential of AI, which has become an industry consensus. The collaboration between banks, technology, and academia continues to deepen, reaffirming our commitment to promoting the local fintech ecosystem. Participants in the Sandbox will gradually start accessing the dedicated platform at Cyberport's Artificial Intelligence Supercomputing Center later this year, with technical testing expected to begin in early 2026. The Monetary Authority will continue to use the GenA.I. Sandbox as a core platform to share best practices with the industry and drive the responsible application of AI technology in the financial sector.