Hong Kong is considering introducing regulations on the use of artificial intelligence (AI) in the financial sector as major technology companies scale back their operations in the city. The move comes amid concerns over the potential risks posed by AI, including biased decision-making and data privacy issues. The proposed rules aim to strike a balance between promoting innovation and ensuring proper safeguards are in place. Key points include: 1) Establishing guidelines for the responsible development and deployment of AI systems in finance. 2) Addressing issues such as data governance, algorithmic transparency, and accountability. 3) Enhancing consumer protection and maintaining public trust in the financial system. 4) Aligning with international standards and best practices for AI governance. The initiative reflects Hong Kong’s efforts to maintain its status as a leading financial hub while adapting to the rapid advancements in AI technology.