More Chinese banks likely to adopt AI rules after Ping An move: analysts
After Ping An Bank became the first listed Chinese lender to formally adopt rules governing its use of artificial intelligence, analysts said more mainland institutions were likely to follow, with the move setting an early benchmark for how far the sector can go in applying the technology. The Shenzhen-listed bank said in a filing on Wednesday that its board had approved AI management measures,…
Following Ping An Bank's adoption of AI management rules, analysts predict more Chinese banks will soon follow suit. The Shenzhen-listed lender became the first listed Chinese bank to formally implement AI rules after the regulatory push for enhanced oversight of AI use. No other listed bank in mainland China has announced similar measures.
Ping An's board approved AI management measures, with its strategy committee overseeing AI-related matters. Checks would be conducted at every stage of AI development and use, with mechanisms for data security, algorithm risk, ethics review, and responsibility tracing. Risks would be classified by level and incorporated into an overall risk-management system.
The measures align with guidelines issued by the National Financial Regulatory Administration in June. Several other banks are expected to issue similar governance rules. While the full rules have not been made public, analysts believe AI adoption in the financial sector is the future trend. Hong Kong financial officials are encouraging local institutions to prepare for autonomous AI systems and position the city as a hub for international compliance standards.
Written by urgent.news from SCMP Tech's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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