China's payment association warns over risks of using AI products like ChatGPT
OpenAI has kept its artificial intelligence-powered chatbot off-limits to users in China.
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China's payment & clearing industry association issued a warning against the use of Microsoft-backed OpenAI's ChatGPT and similar artificial intelligence tools on Monday, citing "risks including cross-border data leaks."
The Payment & Clearing Association of China issued a statement on Monday stating that payment industry personnel must comply with laws and regulations when using tools such as ChatGPT and should not upload confidential information related to the country and the finance industry. The association is administered by the central bank of China.
OpenAI has restricted access to its artificial intelligence-powered chatbot in China, but the app is generating enormous interest there, with companies racing to incorporate the technology into their products and launch competing solutions.
While Chinese citizens are unable to establish OpenAI accounts, virtual private networks and international phone numbers allow some to circumvent these restrictions and access the chatbox.
Italy has provisionally banned ChatGPT and launched an investigation into possible violations of privacy laws. Several European nations investigated whether harsher measures were required.The chatbot's popularity in China has contributed to a rally in tech, media, and telecom (TMT) stocks, although analysts warn of inflation risks.
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The Economic Daily, a Chinese state-run newspaper, published an editorial on Monday urging regulators to increase sector oversight and clamp down on speculation.On Monday, Chinese shares of computer, media, and communications equipment fell between 3.4% and 5.6%.
