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KPMG: HK Banking Displays Strong Resilience in 2024, Accelerates AI Adoption with Tangible, Quantifiable Value
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Despite ongoing global economic challenges, Hong Kong’s banking sector demonstrated robust growth and operational resilience in 2024, according to KPMG’s latest Hong Kong Banking Report. The report provided an in-depth analysis of the banking sector’s overall performance in 2024 and explored key trends shaping the future of banking, including geopolitics, credit risk, digital asset innovation, and AI transformation. KPMG stated that AI has already delivered tangible and quantifiable value to Hong Kong’s banking industry. However, banks must effectively address concerns related to governance, risk, and trust. Building trustworthy AI systems is pivotal for maintaining public confidence and ensuring the long-term sustainability of Hong Kong’s banking system. Institutions that advance further in digital transformation may gain a competitive edge, whereas others may need to first close infrastructure gaps to scale AI adoption. AAStocks Financial News |
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