Hong Kong Financial Institutions' Gen AI Usage Reaches 38%, Well Above Global Average

Artificial intelligence (AI) developments and applications are changing our lives at an unprecedented rate, Hong Kong's Secretary for Financial Services and the Treasury, Mr. Eddie Hui, said on a social networking site. Applications are particularly widespread in the financial sector, where AI is almost ubiquitous, from chatting robots to recognizing suspicious transactions and preventing fraud, and from improving investment portfolios to managing pensions. The current Gen AI utilization rate of Hong Kong's financial institutions stands at 381 TP3T, well above the global average of 261 TP3T.