T+1 Accelerated Settlement: DTCC Proposal…
A deep dive analysis into the current Ethical AI environment in Hong Kong.
This whitepaper adds to the understanding of, and provides valuable contextual information about, the current state of Ethical AI in Hong Kong. A survey was conducted and results augmented via in-depth interviews with several leading figures within the Hong Kong AI industry. The Hong Kong Data Science Society and Sia Partners hope this whitepaper will be a tangible step towards progressing the conversation around an important issue, whilst simultaneously working to produce other frameworks and materials which can be incorporated into day-to-day practices by those applying AI in Hong Kong.
Following the quantitative survey and deep dive interviews conducted from October to December 2020, this paper presents several key themes that contextualise the current state of Ethical AI in Hong Kong. The consensus is that AI Ethics has both a substantial and broad impact on society, and that with ever-increasing AI usage, issues are already manifesting. The deployment of AI technology and awareness of Ethical AI challenges in Hong Kong are eminent, however the understanding of these issues and confidence in tackling them is still relatively low. In discussing potential solutions, a key highlight is the importance of third-party independent bodies and institutions to assist firms in implementing robust practices to address Ethical AI issues, and to mediate between government, regulators and private companies, as a natural next step in the discussion to accelerate maturity. A common, shared and actionable framework to pool Ethical AI actions is missing, and while it is important to address these issues locally, it is even more so given Hong Kong’s unique positioning as a global financial and technology hub.