HKMA & Cyberport Joint Initiative GenA.I. Sandbox Onboards HKUST Business School InvestLM Generative A.I. Platform to Support Hong Kong Financial Services Industry to Harness Potential of Generative Artificial Intelligence (GenA.I.) Technologies
28th November 2024 | Hong Kong
Hong Kong Monetary Authority (HKMA) & Cyberport joint initiative GenA.I. Sandbox have onboarded HKUST Business School (The Hong Kong University of Science and Technology) InvestLM Generative A.I. Platform to support Hong Kong financial services industry to harness the potential of Generative Artificial Intelligence (GenA.I.) technologies. HKMA (28/11/24): “The Hong Kong Monetary Authority (HKMA) welcomes the launch of the InvestLM Generative A.I. Platform announced today (28 November) by the School of Business and Management of The Hong Kong University of Science and Technology (HKUST Business School). This innovative platform aims to support the local financial services industry, particularly small-to-medium financial institutions, in harnessing the potential of Generative Artificial Intelligence (GenA.I.) technologies. In line with the government’s Policy Statement on Responsible Application of Artificial Intelligence in the Financial Market, the HKMA adopts an interactive and iterative approach to promote Artificial Intelligence (A.I.) adoption by banks while understanding the potential challenges. The HKMA also encourages banks to explore the potential of GenA.I. with the new InvestLM Generative A.I. Platform, to help enhance operational efficiency and provide more tailored customer services. Furthermore, banks may consider exploring the possibility of further fine-tuning or adapting the underlying InvestLM model to suit the needs of specific banking operations, while establishing a robust set of guardrails to address the challenges arising from such fine-tuning processes. The HKUST’s InvestLM model will also be made available to banks through the GenA.I. Sandbox, a joint initiative of the HKMA and the Cyberport. In addition to providing a risk-managed framework for banks to pilot novel GenA.I. use cases, the GenA.I. Sandbox offers the necessary technical resources and targeted supervisory feedback for banks to explore additional avenues to test or even further fine-tune the InvestLM model. During the fine-tuning process, banks can also benefit from the vast experience of the research team at the HKUST Business School in addressing common challenges related to similar GenA.I. models, such as bias and hallucination risks.”
“ HKMA & Cyberport Joint Initiative GenA.I. Sandbox Onboards HKUST Business School InvestLM Generative A.I. Platform to Support Hong Kong Financial Services Industry to Harness Potential of Generative Artificial Intelligence (GenA.I.) Technologies “
Arthur Yuen, Deputy Chief Executive of the HKMA: “Our GenA.I. Sandbox serves as a crucial testing ground where banks can safely explore and validate novel A.I. applications. By integrating the HKUST’s InvestLM model, a home-grown innovation, into this controlled environment, we are offering banks a wider range of avenues in developing their GenA.I. use cases while identifying appropriate safeguards. The latest collaboration with the HKUST Business School reflects another milestone of our continuing efforts to drive responsible A.I. adoption in Hong Kong’s financial sector.”
HKMA & Cyberport Joint Initiative GenA.I. Sandbox Onboards HKUST Business School InvestLM Generative A.I. Platform to Support Hong Kong Financial Services Industry to Harness Potential of Generative Artificial Intelligence (GenA.I.) Technologies
Sign Up / Register
Caproasia Users
- Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2024 Investment Day
- March 2024 - Hong Kong
- March 2024 - Singapore
- July 2024 - Hong Kong
- July 2024 - Singapore
- Sept 2024 - Hong Kong
- Sept 2024 - Singapore
- Oct 2024 - Hong Kong
- Nov 2024 - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
