Hong Kong banks lead adoption of Generative AI: survey

This contrasts with their attitudes towards AI more broadly.

Hong Kong financial institutions (FIs) are ahead of other markets in Generative AI adoption, with 38% saying they have already started rolling out the technology.

According to a Finastra survey, Hong Kong's average is the highest of all the markets surveyed and above the global average of 26%.

Only 1% in Hong Kong say their financial institution is not interested in Generative AI at all.

This contrasts with attitudes towards AI more broadly, with just 29% saying their institution has improved or deployed AI technology in the last 12 months – the lowest of the markets surveyed apart from France (28%).

Meanwhile, the study also found that FIs are enthusiastic about the potential for BaaS and embedded finance in business growth and revenue, with 85% seeing these models as generators of business growth and revenue.

In Hong Kong, 51% of organisations are already deploying or improving their BaaS capabilities, whilst 43% have been working on their embedded finance capabilities in the last 12 months.