Hong Kong’s de facto central bank has issued new guidelines for financial institutions using generative artificial intelligence (GenAI) in consumer-facing applications, as adoption of the technology grows in the banking sector. The Hong Kong Monetary Authority (HKMA) advised banks to ensure customers can opt out of GenAI use and that AI models do not create unfair bias. Company boards and senior management must remain accountable for AI-driven decisions. While earlier AI guidelines from 2019 still apply, the HKMA calls for additional measures to address GenAI-specific risks. The guidelines follow increasing interest in GenAI, with 39% of surveyed institutions in Hong Kong already adopting or planning to adopt the technology, primarily for internal functions.