First cohort of GenA.I. Sandbox++

On Thu, 27 Aug – Announcement of the First Cohort under GenA.I. Sandbox++

The Hong Kong Monetary Authority ("HKMA"), the Securities and Futures Commission ("SFC"), the Insurance Authority ("IA") and the Mandatory Provident Fund Schemes Authority ("MPFA"), in conjunction with the Hong Kong Cyberport Management Company Limited (“Cyberport”), announced on 27 August the inaugural cohort of the Generative Artificial Intelligence Sandbox++ programme. From a pool of approximately one hundred proposals, thirty-six use cases were adjudicated for inclusion, encompassing thirty financial institutions and twenty-seven technology partners. Selection was determined by reference to criteria including innovation, technical complexity and prospective value to the financial sector, with recommendations furnished by an independent academic selection committee.

Focus on Agentic Artificial Intelligence Applications

The inaugural cohort is principally directed at agentic artificial intelligence applications that transcend conventional content-generation paradigms. The approved use cases examine how such systems may assume greater operational autonomy in a responsible and governed manner, encompassing end-to-end workflows including customer onboarding, payment processing, insurance claims adjudication and client interaction management. Consistent with the “A.I. vs. A.I.” thematic framework established in prior cohorts of the GenA.I. Sandbox programme, the present pilots further investigate mechanisms by which one artificial intelligence system may exercise dynamic oversight over actions undertaken by other deployed systems.

Supervisory Endorsement and Strategic Objectives

Mr Eddie Yue, Chief Executive of the HKMA, expressed satisfaction at the expanded collaborative partnerships between a broad spectrum of financial institutions—extending beyond banking—and technology enterprises, noting that such alliances are unlocking new opportunities through agentic artificial intelligence. He affirmed the Authority's commitment to fostering cross-sectoral ecosystem collaboration and reinforcing Hong Kong's standing as an international financial centre and innovation hub.

Ms Julia Leung, Chief Executive Officer of the SFC, characterised the industry's engagement with agentic artificial intelligence as a material advancement toward developing a future-ready market in which heightened system autonomy is underpinned by robust governance frameworks and clear lines of accountability. She highlighted that the Sandbox++ initiative affords participants an opportunity to conduct testing within a controlled environment while maintaining direct supervisory engagement from inception, with the objective of distilling actionable insights for broader market transformation.

Mr Clement Cheung, Chief Executive Officer of the IA, commended the quality and diversity of proposals submitted by insurance-sector participants as reflective of a demonstrable commitment to deploying advanced technologies in furtherance of policyholder interests. He indicated that the Authority would pursue progressive expansion of the AI Cohort Programme with a view to consolidating Hong Kong's position as an international centre for innovation and technology under the National 15th Five-Year Plan.

Mr Cheng Yan-chee, Managing Director of the MPFA, welcomed the cross-sector collaboration facilitated by the programme, which convenes financial institutions and technology firms to explore practical generative artificial intelligence applications. He noted with approval that mandatory provident fund trustees and intermediaries are participating in testing initiatives designed to enhance operational efficiency and member engagement while safeguarding scheme members' interests through responsible deployment of such technologies.

Technical Infrastructure and Commencement Timeline

Participants shall be onboarded onto the designated platform operated by Cyberport's Artificial Intelligence Supercomputing Centre, with technical trials scheduled to commence later in 2026.

Composition of the Selection Committee

The selection committee comprised: Professor CK Chan (Programme Director, MSc/PgD in Financial Technology, Faculty of Engineering; and Professor of Practice in Financial Technology, Department of Systems Engineering and Engineering Management, The Chinese University of Hong Kong); Professor Kar Yan Tam (Vice-President for Administration and Business and Chair Professor of Information Systems, Business Statistics and Operations Management, The Hong Kong University of Science and Technology); Dr Samuel Kwan (Chief Information Officer, Information Technology Services Office, The Hong Kong University of Science and Technology); and Professor S.M. Yiu (Master Programme Director and Professor, School of Computing and Data Science, The University of Hong Kong).