Hong Kong releases consumer protection guidelines for generative artificial intelligence

On August 20, the HKMA (HKMA) released guidelines for the use of generated artificial intelligence in consumer-facing applications to ensure the safety of end users.
Hong Kong's central banking agency, HKMA, has revamped its existing four-pillar guidelines on the use of generative artificial intelligence (GenAI) in a circular issued to authorised bodies made up mainly of banks. These new principles were added to the four core pillars - governance and accountability, fairness, transparency and disclosure, and data privacy and protection - originally introduced for big data analytics and artificial intelligence in November 2019.