30pc of financial firms now employ agentic AI: survey

A recent survey by the Securities and Futures Commission (SFC) reveals that three out of four large financial firms in Hong Kong now incorporate AI into their operations, with growth projected to accelerate in the coming year. The survey, conducted in July and August, encompassed 20 significant financial firms alongside 78 affiliated licensed corporations, representing more than three-quarters of securities transactions reported by licensed entities in the preceding six months.

The data indicates that 95% of surveyed firms anticipate AI usage to continue its rapid expansion within the next 12 months, and 90% have already integrated AI tools into their internal systems. AI applications are now prevalent across all departments, from the front office to the back office.

Julia Leung, SFC's chief executive officer, highlighted during Hong Kong Fintech Week that AI adoption in Hong Kong's capital market is accelerating in both speed and scale. Notably, agentic AI – capable of autonomously determining and executing steps to achieve a goal – is gaining traction, with 30% of surveyed firms employing it in their business operations and another 25% piloting its use with varying degrees of autonomy and human oversight.

However, Leung advised caution, likening agentic AI to children at home: they define the boundaries set by their creators, and may sometimes act independently, potentially causing disruptions.

Leung acknowledged that the rapid development of frontier AI models and agents has outpaced the ability of governments and regulators to establish appropriate rules. In response, the SFC plans to incorporate the survey findings into its supervisory approach to AI, with a focus on investor protection, cybersecurity, operational resilience, and effective AI governance.