{
  "id": 4137494,
  "title": "Opening remarks - Hong Kong Monetary Authority (HKMA)-Hong Kong Association of Banks (HKAB) seminar",
  "url": "https://urgent.news/2026/08/10/opening-remarks-hong-kong-monetary-authority-hkma-hong-kong",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-10T00:00:00.000Z",
  "source": {
    "name": "BIS Central Bank Speeches",
    "slug": "bis-central-bank-speeches",
    "url": "https://www.bis.org/speeches/20260810-opening-remarks-hong-kong-monetary-authority-hkma-hong-kong-association-banks-hkab-seminar"
  },
  "original_language": "en",
  "account": "Good afternoon, everyone. Quantum computing has transitioned from a futuristic concept to a topic of relevance for bankers, risk managers and board directors. The Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB) recently hosted a seminar to discuss the implications of technological advancements like A.I., quantum computing, Distributed Ledger Technology (DLT) and high-performance computing on the banking industry.\n\nThe first observation made was that technological advancements are set to transform the banking industry's structure. Rather than debating whether new technologies will affect banking, the focus should be on effectively navigating this transition and maximizing benefits while managing risks. These technologies offer opportunities for faster insights, improved services, and enhanced analysis capabilities. However, they also entail responsibilities such as ensuring better data, increased operational and cyber dependencies, and enhanced security measures.\n\nThe second observation highlighted the importance of nurturing a robust fintech workforce. While banking has been a people-centric industry for centuries, the integration of technology has not rendered human interactions obsolete. Customers still value the ability to interact with a human bank representative when needed, especially during problematic situations. The potential of A.I. to complement human capabilities rather than replace them is emphasized, with the need for a 'human-in-the-loop' and 'human-in-the-lead' approach in the design and operation of A.I. models and applications.\n\nThe HKMA, HKAB and HKIB recently conducted a study on the future workforce of banks, identifying three layers: technological expertise, business acumen, and trust-building skills. It is evident that the future bank will not be built solely by technologists but by individuals capable of connecting technology, business, and trust. The HKMA will be tracking the Quantum Preparedness Index (QPI) of each bank, and it is crucial for bank executives to understand quantum computing. The presentation aimed to facilitate this understanding and provide insights into making progress in this field.",
  "summary": "Opening remarks by Mr Arthur Yuen, Deputy Chief Executive of the Hong Kong Monetary Authority, at the Hong Kong Monetary Authority (HKMA)-Hong Kong Association of Banks (HKAB) seminar on \"Quantum computing and quantum resilience for banking industry\", Hong Kong, 6 July 2026.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}