Chinese payment association warns of risks of using AI products like ChatGPT

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SHANGHAI/BEIJING (Reuters) – China’s payments industry group warned against using Microsoft-backed OpenAI’s ChatGPT and similar artificial intelligence tools due to “risks such as cross-border data leaks” .

“Payment industry staff must comply with laws and regulations when using tools such as ChatGPT and must not upload sensitive information related to the country or the financial industry,” said China Payment. The Payments Association said in a statement on Monday. This association is controlled by the Central Bank of China.

OpenAI maintains chatbots powered by artificial intelligence

Although off-limits to Chinese users, the app has generated significant interest there, with companies rushing to integrate the technology into their products and launch competing solutions.

Residents of China cannot create OpenAI accounts, but virtual private networks and foreign phone numbers allow them to bypass these restrictions and access the chatbox.

Italy has temporarily banned ChatGPT and launched an investigation into alleged privacy rule violations. Some European countries were considering whether stronger measures were needed.

Excitement in China over chatbots has spurred tech, media and telecom (TMT) stocks to rise, with analysts warning of the risk of a bubble.

Chinese state media Economic Daily released a commentary on Monday urging regulators to step up oversight and crackdown on speculation in the sector.

Chinese stocks in computers, media and telecom equipment plunged between 3.4% and 5.6% on Monday.

(Reporting by Jason Xue, Brenda Goh in Shanghai, Albee Zhang in Beijing; Editing by Toby Chopra and Simon Cameron-Moore)

Copyright 2023 Thomson Reuters.

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