HKMA Welcomes Launch of HKUST’s InvestLM Generative A.I. Platform

The Hong Kong Monetary Authority (HKMA) welcomed the launch of the InvestLM Generative AI Platform by HKUST Business School, aimed at supporting local financial institutions, especially SMEs, in adopting Generative AI technologies. Aligned with the government’s policy on responsible AI use, the HKMA encourages banks to utilize InvestLM to enhance efficiency and customer service while addressing challenges like bias and hallucination risks. The platform is integrated into the GenA.I. Sandbox, a joint initiative with Cyberport, providing a risk-managed environment for banks to pilot AI applications and fine-tune the InvestLM model with guidance from HKUST experts. This collaboration marks a key step in advancing responsible AI adoption in Hong Kong’s financial sector.

Resources: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/11/20241128-4/