The first phase of the GenA.I. Sandbox++ will focus on agentic A.I. applications.Author and source: Hong Kong Monetary Authority
On August 27, 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 collaboration with Hong Kong Science and Technology Parks Corporation (HKSTP), announced the participants of the first cohort of the Generative AI Sandbox++.
We received nearly 100 proposal submissions, of which 36 use cases were selected for the first phase of the GenA.I. Sandbox++, representing 30 financial institutions and 27 technology partners. All submissions were ranked based on innovation, technical complexity, potential value to the financial industry, and recommendations from a panel of academic experts.
The first phase of the GenA.I. Sandbox++ will focus on agentic A.I. applications. Selected use cases will go beyond content generation to further explore responsible ways to enhance A.I. autonomy. Testing will cover end-to-end processes in areas such as customer onboarding, payments, insurance claims, and customer interactions. Additionally, building on the previous GenA.I. Sandbox theme of “A.I. Against A.I.,” the latest pilot project will further examine how to use A.I. to dynamically monitor the autonomous operations of other A.I. applications.
MAS Chief Executive Eddie Yue said: “We are delighted to foster more innovative partnerships between banks, various financial institutions, and technology companies. These collaborations will unlock the potential of agent-based AI and create new opportunities. Through the GenAI Sandbox++, MAS will continue to promote cross-sector and ecosystem collaboration. Together, we will shape the future of financial services and reinforce Hong Kong’s position as an international financial center and innovation hub.”
SFC Chief Executive Laura Liang said: “The financial industry’s exploration of agent-based AI marks a significant step toward building a future-ready market in Hong Kong, and more autonomous systems must be grounded in robust governance and clear accountability. The GenA.I. Sandbox++ provides participating institutions with the opportunity to test their use cases in a controlled risk environment and engage directly with regulators from the early stages. We look forward to leveraging the valuable insights gained from these tests to drive broader market transformation.”
Mr. Zhang Yunzheng, Director of the Insurance Authority, said: “I am impressed by the high quality and diverse ideas presented by the insurance industry, which clearly demonstrate the sector’s commitment to leveraging advanced technology to enhance policyholders’ well-being. The GenA.I. Sandbox++ has inspired innovative concepts, delivered practical insights, and strengthened cross-sector collaboration. The Insurance Authority will strive to consolidate Hong Kong’s position as an international center for innovation and technology under the nation’s 15th Five-Year Plan by progressively expanding the ‘AI Enhancement Initiative.’”
Chief Executive of the Mandatory Provident Fund Schemes Authority, Cheng Ngai-sze, said: “We are pleased that the GenA.I. Sandbox++ fosters cross-sector collaboration, bringing together participants from the financial and technology industries to explore practical applications of GenA.I. We are delighted to see MPF trustees and intermediaries participating in this initiative, testing the use of GenA.I. to enhance operational efficiency and improve communication with plan members, while promoting the responsible application of GenA.I. to safeguard the interests of MPF plan members.”
Selected participants will be granted access to a dedicated platform at the Cyberport AI Supercomputing Center and will begin technical testing later this year.