Hong Kong Monetary Authority: Hong Kong banks are currently using generative artificial intelligence in different business areas.

On November 21, K.C. Chan, Assistant Vice-President of the Hong Kong Monetary Authority (Banking Conduct), spoke at the unveiling ceremony of the 2025 Cross-Strait and Hong Kong-Macau Wealth Management Forum and the 14th Outstanding Wealth Management Skills Competition. He mentioned that a research report entitled "Securities Services Evolution 2025" released by international financial institutions revealed that 86% of the surveyed global financial industry leaders stated that their companies are conducting pilot projects on generative artificial intelligence. This reflects that financial institutions globally are adopting generative artificial intelligence and have entered a stage where it is meaningful and can yield actual benefits. Through surveys and inviting banks to participate in sandbox testing, the HKMA has learned that banks in Hong Kong are beginning to utilize generative artificial intelligence in various business areas. K.C. Chan gave examples of this: The first most promising area is utilizing customer chatbots, such as Siasun Robot & Automation, to handle a large number of customer inquiries in real-time. Several banks in Hong Kong are actively testing this technology, with positive results, and some banks are planning to launch pilot services in the near future. Looking ahead, there is also great potential for robo-advisors to provide advice on wealth management and insurance based on clients' risk tolerance and financial goals, especially for retail customers in mass market segments. The second area is sales and marketing. Banks in Hong Kong have integrated generative artificial intelligence into marketing functions to support multiple digital channels in creating content, translating and summarizing materials, and optimizing search engine results. In the future, generative artificial intelligence can also help banks identify customer segments for marketing campaigns and create customized marketing activities for clients. Another area is complaint handling. One bank in Hong Kong is using generative artificial intelligence to assist employees in summarizing complaint contents, identifying relevant policies and procedures for easier investigation, and drafting appropriate responses based on investigation results. The last potential area is inclusive finance. Banks in Hong Kong are testing the use of generative artificial intelligence to convert product and service information into video formats. These videos will be tailored to meet the diverse needs of different clients, including providing multilingual versions for non-local or non-Chinese-speaking individuals and adjusting the tone and style for elderly clients to promote inclusive finance. K.C. Chan stated that there is no need to overly worry about wealth management practitioners being replaced by artificial intelligence in the near future. The personalized services provided by wealth management practitioners are still valuable to clients. The focus should be on using technology, especially artificial intelligence, to provide more personalized services at a lower cost to cater to different client groups, while ensuring high-quality human services for high value and high-quality personalization services to be popularized and made accessible to the masses. Additionally, consumer and investor protection must be ensured in this aspect, which holds great potential.