Among other things, it serves as the voice of the industry to share best practices.
The FinTech Association of Hong Kong (FTAHK) has launched the FTAHK AI Strategic Advisory Council, a dedicated committee to explore and promote responsible AI in Hong Kong’s financial sector.
The council will run for one year and will be comprised of 10 founding members from a variety of industries.
The Council will advise the FTAHK Committee to identify the transformative potential of AI to understand how the financial services sector leverages technology, according to a press release.
It also serves as an industry voice to share best practices.
Members of the Founding Council come from the industries of digital banking, business, academia, data science, operations, compliance, banking, professional services firms, academia, startups, and technology companies from the financial industry.
Bimonthly workshop sessions will foster in-depth discussions and collaborative efforts to achieve the Council’s objectives, including exploring the role of AI. Use case demonstration. Advocating for responsible innovation. and strengthening thought leadership.
The Council will report its findings and recommendations directly to the FTAHK Committee and the respective regulators and members.
The FTAHK AI Strategic Advisory Council was launched as part of the Asian Financial Forum’s International Financial Week and is mediated by Raymond Chan, Hongongong Monetary Authority (HKMA) Executive Director (AML and Execution) and Henry Tsang, Securities and Futures Commission (SFC) Director person (supervision of the intermediary).
