Regulatory Alerts2024-08-19
Added · Updated
Consumer Protection in respect of Use of Generative Artificial Intelligence
The Hong Kong Monetary Authority issued this circular to establish consumer protection standards for authorized institutions utilizing generative artificial intelligence. It mandates that institutions implement robust governance frameworks to manage risks associated with generative AI applications, ensuring transparency, accountability, and fairness in their operations. The document further requires institutions to maintain adequate oversight mechanisms to prevent potential harms to consumers arising from the use of these technologies.
CIR
Current
Issue Date:
19 Aug 2024
20241125-1-EN.pdf (154.1 KB)
Topic:
Banking Conduct & Enforcement - Consumer Protection
Group:
All Authorized Institutions
Directly related Document
Cross referenced Document
Version History
Superseded Document
Directly related Document
CIR
Current
19 Aug 2024
Consumer Protection in respect of Use of Generative Artificial Intelligence
Annex
Current
19 Aug 2024
Annex 2 - Survey on Consumer Protection in respect of the Use of Big Data Analytics and Artificial Intelligence
CIR
Current
19 Aug 2024
Consumer Protection in respect of Use of Generative Artificial Intelligence
Annex
Current
19 Aug 2024
Annex 2 - Survey on Consumer Protection in respect of the Use of Big Data Analytics and Artificial Intelligence
Cross referenced Document
Version History
Superseded Document
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