Stiff competition: Signage for the Hong Kong Stock Exchange. The city is seeking to reassert its strength as a financial centre as foreign investors consider alternative locations such as Singapore. — Bloomberg
Hong Kong: The Hong Kong government is preparing to issue its maiden policy statement on the use of artificial intelligence (AI) in finance, according to people familiar with the matter, a move that could catalyse the use of the technology in areas from trading to investment banking and cryptocurrencies.
The city’s Financial Services and Treasury Bureau plans to issue a framework of guidelines to touch on the ethical use of AI and general principles for applying the technology in the finance world, the people said, asking not to be identified discussing private information.
