Peter Jang
October 31, 2024 20:58
The Hong Kong Monetary Authority and BIS jointly host an international conference focused on emerging technologies in the financial sector, attracting key stakeholders from around the world.
The Hong Kong Monetary Authority (HKMA) and the Bank for International Settlements (BIS) successfully concluded the International Financial Conference in Hong Kong on October 31, 2024. This event, which was held with the support of the Global Association of Risk Professionals (GARP), is attended by over 100 representatives from international organizations, central banks, regulators, financial institutions, technology companies, consulting firms, and academia from around the world.
Focus on emerging technologies
Following the 15th Global Risk Forum, this conference was held under the theme of ‘Opportunities and challenges of emerging technologies in the financial ecosystem.’ Keynote speaker Sarah Breeden, Deputy Governor for Financial Stability at the Bank of England, discussed how technologies such as artificial intelligence and tokenization are reshaping the financial landscape.
Eddie Yue, CEO of HKMA, highlighted the transformative impact of technology on finance. “Technology is a game-changer for the financial industry. We need to embrace the enormous opportunities it offers, while at the same time strengthening collaboration between all parties to effectively address the challenges,” he said. The importance of collaboration was emphasized. present.”
Industry Insights and Collaboration
Prominent speakers shared insights on preparing the industry for technological advancements. BIS, headed by Tao Zhang, emphasized its role in supporting stakeholders to leverage the benefits of tokenization and artificial intelligence while mitigating the associated risks. “By working closely with central banks and other stakeholders, BIS can play an important role in supporting their efforts,” Zhang said.
The conference provided an excellent platform for participants to discuss the balance between innovation and risk management in a rapidly evolving financial ecosystem. Panel discussions covered topics including operational resilience, efficiency, stability implications of tokenization, and the impact of artificial intelligence on central banks.
Host organization introduction
BIS, headquartered in Basel, Switzerland, is an international organization established to support central banks in their pursuit of global monetary and financial stability. The BIS Innovation Hub Hong Kong Center celebrates its fifth anniversary with a representative office and innovation hub in Hong Kong.
GARP, a non-profit organization, focuses on risk management training and certification. It offers Financial Risk Manager (FRM®), Sustainability and Climate Risk (SCR®) certifications, and promotes collaboration between practitioners, academia, and regulators.
For more information, visit Hong Kong Monetary Authority.
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