- The Hong Kong Monetary Authority (HKMA) has released guidelines for the use of generative AI in the financial sector. These guidelines aim to ensure that AI technologies are deployed responsibly, focusing on risk management, data privacy, and compliance. The HKMA emphasized the importance of transparency, accountability, and ethical considerations in AI usage, urging financial institutions to adopt robust governance frameworks.
- The HKMA has also announced the launch of ‘Generative Artificial Intelligence Sandbox’ as it seeks to encourage ‘responsible’ use of generative AI among banks. Details of the sandbox, including eligibility criteria and application process, are set be announced in due course.
- Hong Kong is aiming to boost its AI capabilities by enhancing computing power and supercharging its start-up fund. The city's government plans to meet its AI computing power goals by upgrading infrastructure and attracting more tech talent. Additionally, the Innovation and Technology Commission will expand funding to support start-ups in AI and other advanced technologies.
- OrangeKloud has partnered with AI Singapore (AISG) to enhance its no-code app-building technology by integrating artificial intelligence. This collaboration aims to make app development more accessible by leveraging AI to simplify the process, enabling users to build apps without coding expertise.
- Singapore-based unicorn Patsnap is set to expand its AI-powered patent search capabilities. The company plans to enhance its technology to provide more advanced and efficient patent analysis, helping businesses and researchers navigate intellectual property more effectively.
- Chinese gaming company Kunlun Tech, has launched a tool that allows users to create 3-minute dramas complete with music and plotlines. The AI-powered tool simplifies the process of content creation, enabling users to produce short, engaging stories quickly and easily.
- Chinese researchers have reportedly developed an AI model that mimics the human brain's structure and functionality. This AI model, inspired by the brain's neural network, aims to enhance the efficiency and capabilities of AI systems. The model could represent a step toward creating more human-like AI, with potential applications in fields including autonomous systems and decision-making processes.
- Google leads the world in generative AI patents, with Baidu closely following, according to a recent report. The surge in patent filings reflects the intense global competition to dominate the AI sector, particularly in generative AI. Most companies own patents in one dominant GenAI model, however, there are some exceptions such as Tencent and Google who have filed patents in several model types.
