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HKMA stresses senior management accountability for AI-driven decisions

In view of enhancing supervision amid the increased adoption of artificial intelligence (AI) solutions, the HKMA sent letters to the chief executives of all authorised institutions in Hong Kong last Friday, stressing that board members and senior management remain accountable for AI-driven decisions. The letter, penned by Raymond Chan, the HKMA’s executive director for banking supervision, set out 12 principles…

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