Due to “risks such as cross-border data leaks,” China’s payment and clearing industry association warned against using Microsoft-backed OpenAI’s ChatGPT and similar artificial intelligence tools on Monday.
“Payment industry staff must comply with laws and rules when using tools such as ChatGPT, and should not upload confidential information related to the country and the finance industry, “the Payment & Clearing Association of China said in a statement on Monday. The association is governed by the People’s Bank of China.
OpenAI has restricted access to its artificial intelligence-powered chatbot in China, but the app is generating a lot of interest there, with companies rushing to integrate the technology into their products and launch competing solutions.
While Chinese residents are unable to create OpenAI accounts, virtual private networks, and foreign phone numbers are assisting some in circumventing the restrictions and accessing the chatbox.
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Italy has temporarily banned ChatGPT and launched an investigation into possible violations of privacy laws. Some European countries were investigating whether tougher measures were required.
The excitement in China over the chatbot has fueled a rally in tech, media, and telecom (TMT) stocks, despite analysts warning of bubble risks.
On Monday, Economic Daily, a Chinese state media outlet, published a commentary urging regulators to increase oversight and crack down on speculation in the sector.
On Monday, Chinese shares in computer, media, and communications equipment fell between 3.4 percent and 5.6 percent.
Additionally, it is important to follow best practices when using any technology, such as being cautious about sharing sensitive information and using strong passwords. It is also important to regularly update and maintain any software or tools being used to ensure they are secure and up-to-date with the latest security patches.
