FTAHK Launches AI Strategic Advisory Council

FTAHK Launches AI Strategic Advisory Council to Promote Responsible AI in Hong Kong’s Financial Sector

The Fintech Association of Hong Kong (FTAHK) has announced the formation of the FTAHK AI Strategic Advisory Council, a dedicated committee designed to promote the exploration and adoption of responsible AI practices within Hong Kong’s financial sector.

The council, consisting of 10 founding members from diverse industries, will operate over the course of a year. Its primary goal is to advise the FTAHK Board on uncovering the transformative potential of AI in financial services while ensuring responsible and ethical use of the technology, according to the official press release.

Additionally, the council will act as a voice for the industry, providing guidance, sharing best practices, and offering recommendations to shape AI’s future role in financial services. The group includes experts from areas such as digital banking, business, academia, data science, compliance, and transformation, representing organizations ranging from startups and professional services firms to established banks and technology companies.

The council’s findings and recommendations will be reported directly to the FTAHK Board, regulators, and association members. This initiative underscores FTAHK’s commitment to fostering innovation while balancing the need for ethical considerations in deploying AI technologies across the financial ecosystem.