Hong Kong has the potential to transform itself into an artificial intelligence (AI) applications development hub, on the back of the government’s forward-looking policy initiatives and as part of the broader information technology ecosystem in the Greater Bay Area, according to a panel discussion at InnoTech Forum 2024.
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“It’s almost essential for Hong Kong to become an AI development hub in the next three to five years,” said Sony Han, IBM iX leader at IBM Consulting Hong Kong, in a panel discussion of AI in action. “Hong Kong within the bay area will have the most diverse digital ecosystem around the world because of the convergence of many different digital ecosystems.”
Still, that transformation in Hong Kong will need more funding from both the public and private sectors, so that the essential computing and energy infrastructure can be put in place in the city, according to Maryann Tseng, head of international equity markets and senior managing director for strategic investment at SenseTime.
“Here in Hong Kong, there has been a lot more subsidies being provided by the government, which includes supplies of GPUs [graphics processing units] and AI data centres,” Tseng said. To capture more investment, she suggested forming “a fund of funds to channel more market capital” to the city’s nascent AI ecosystem.
Still, demand for innovative AI applications from consumers and enterprises is something to be fostered over time. Tseng asked: “Are the consumers ready to use an AI-empowered environment? Are the enterprises ready to pay to have these applications?”
Sony Han, IBM iX Leader at IBM Consulting Hong Kong, speaks at InnoTech Forum 2024 organised by Invest Hong Kong and held at the Hong Kong Ocean Park Marriott Hotel on October 18, 2024. Photo: SCMP
The InnoTech Forum’s discussions on Friday reflect the steps being taken by the government and private sector to set the AI path in Hong Kong with vital computing infrastructure.
