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New HK AoF report proposes risk mitigation strategies for banks adopting AI

Banks should consider reviewing their governance frameworks to mitigate emerging risks stemming from the use of artificial intelligence in their operations and activities, the Hong Kong Academy of Finance (AoF) has warned. In a newly published report by the AoF’s research arm, the Hong Kong Institute for Monetary and Financial Research (HKIMR), banks were encouraged to improve their understanding of the…

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