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Hong Kong releases consumer protection guidelines for generative AI

Hong Kong releases consumer protection guidelines for generative AI

CointimeCointime2024/08/20 08:35
By:Cointime

According to Cointelegraph, the Hong Kong Monetary Authority (HKMA) has issued guidelines for the use of generative artificial intelligence in consumer applications to ensure the safety of end users. The Hong Kong Central Bank, the Hong Kong Monetary Authority, has reformed its existing four-pillar guidelines on the use of generative artificial intelligence (GenAI) in a circular issued to authorized agencies mainly composed of banks. These new principles have been added to the four core pillars introduced in November 2019 for big data analysis and artificial intelligence - governance and accountability, fairness, transparency and disclosure, and data privacy and protection.

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