Approximately 16 among the 47 APAC jurisdictions are conducting AI regulations or guidance.
Companies in Asia -Pacific regions, including banks, are carefully planning the product -based AI (GEN AI) plan, and fears that products of products will be fast and outdated.
“Our client has secured funds for the generated AI, but is proceeding carefully for its evolution and current restrictions. Ey ASIA Pacific FSO and technology consulting CHRIS LEUNG. He talked to Asian banks and finance through writing.
According to what is reported, the product can be a few months faster and outdated, especially due to the concept of AI agent and the rapid development of models.
However, banks cannot be completely released. AI -compatible digital workers are treated in a larger task, such as transforming operation, low -value tasks such as simple email reply and calendar management, relieving financial risks, and ensuring regulation compliance. 。
This allows human employees to focus on making more complex decisions.
Even in decision -making, AI is expected to play a role, says Siobhan Byron of EVP UNIVERSAL BANKING, Finastra Limited.
“Another new trend is an AI -drive type analysis and an intelligent dashboard. Bylon is an Asian bank in response to questions about the new trends in the banking industry in 2025. We talked to Asian banks and finance through finance.
Another application is an assistant equipped with GENAI, and the bylon is expected to be implemented inside and outside the bank. She said this would support decision -making based on information for banks and customers.
Regulatory issues
The regulation compliance is one factor that is displayed as both the usable case and the task that APAC companies can do. Companies need to work on a variety of data privacy and residence law in 47 or more and regions.
According to Sidley Austin LLP in the United States, as of 2024, 16 people in APAC’s 47 jurisdictions have some form of AI guidance or regulations.
Some countries implement AI -specific laws and regulations, but in other countries, they have a “softer” law approach, depending on the principles and standards without binding, In the August 2024 report.
For example, India has launched the AI Advisory Group. Many Southeast Asian countries, including Japan and Indonesia, Malaysia, Thailand and Vietnam, have instead selected the AI method. In contrast, Singapore had no laws at the moment, but instead started producing AI frameworks in May 2024.
In China and Japan, on the other hand, there are strict regulations that often prohibit data exchange beyond borders.
According to Leung, this fragment is equivalent to higher cost and complexity of banks.
“Acceleration in the adoption of AI is increasing the risk of violation of data privacy regulations and the possibility that organizations may inadvertently impair customer trust,” he said.
The Sidley Austin LLP is a report, and banks are also recommended to develop their own AI governance frameworks to comply with the applicable legal and regulatory authorities.
Good news is that, as the AI regulations become more complicated in APAC, other reports of SIA PARTNERS released in July 2024 may actually be similar even if they are not uniform. is.
“There is a prediction of uniformity based on the historical cases of the country in line with the EU command,” said the headquarters management consulting company in Paris.
For example, the Australian government has indicated that it may adopt a risk -based approach such as EU AI AC.
“This movement can promote more smooth international business management and standardize the use of ethical AI across borders. This is expected to extend to the Apac area.” I added it.
Sidley Austin LLP said that the future law in APAC is expected to be focused on binding regulations and penalties without any further legislation.
Apart from that, the APAC area boasts a lively emerging company and a FinTech community, and offers a number of innovative use cases to AI. According to Leung, this dynamic environment promotes the creativity and rapid development of AI technology.
In particular, the regulatory approach based on Asia’s principles of AI could promote the competitive market, experiment with Genai technology in flexible guidelines, and promote financial services innovation.
“Asia’s supported regulatory environments, led by principles such as fairness, ethics, and transparency, are positioned as a leader in GENAI implementation, use existing frameworks to deal with new risks, and are responsible AI. We are promoting development.
Effective AI regulations depend on the rules that match the specific guidance and sector, emphasize the importance of adjusted standards and borders, prevent fragmentation of regulations, and global to AI systems. Build trust.
“Accepting the human practice of loops, supporting regulations, and giving priority to consumer protection and ethics will navigate the landscape of AI evolving regulatory authorities and organizations, maintaining safety and reliability. This is an important step to promote innovation, “Leung says.
-With additional reports by Jaleen Ramos
