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Digital Transformation

Computer maker Dell is seeing increased inquiries in Hong Kong to implement artificial intelligence in various enterprises. Photo: Shutterstock
Artificial intelligence

Hong Kong enterprise AI adoption sees upswing on strong government policy

Enterprises in Hong Kong are looking to explore AI solutions that not only enhance their capabilities, but also meet regulatory requirements.

Transport and logistics

What China is doing to make ports ‘smart’ and not prone to work stoppages

Banking & finance

HKMA expands data platform to help SMEs open bank accounts

India

Showtime or shutdown? India’s storied cinema halls struggle in streaming era

A cultural identity forged over decades hangs in the balance as India’s small cinema owners battle to survive digital disruption.

A rickshaw-puller stands outside a cinema in New Delhi in 2022. More than 1,000 of India’s single-screen cinemas have closed over the past decade. Photo: Reuters
Artificial intelligence

HKMA, Cyberport collaborate on GenAI sandbox to support adoption in banking

The sandbox serves as a framework, with computing resources and supervisory guidance, to help banks test and build their GenAI applications.

Artificial intelligence

Equinix to spend US$124 million on 6th Hong Kong data centre amid AI boom

The company plans to eventually house 3,550 cabinets in the Tsuen Wan facility, offering greater energy efficiency that may appeal to AI service operators.

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Technology

Effects studio behind Marvel’s Avengers to set up Hong Kong R&D centre

Digital Domain’s research and development centre in Hong Kong will focus on artificial intelligence-powered virtual humans and their application in service-oriented environments.

Supervillain Thanos in Marvel Studios’ 2018 film Avengers: Infinity War. Photo: Handout
China jobs

My Take | China faces tough balancing act to embrace tech, while losing traditional jobs

The transition to robotaxi services comes at a time when China is in a race to lead the world in the adoption of autonomous vehicle and artificial intelligence technologies.

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Huawei

Huawei enters new partnership to drive AI adoption in China’s heavy industries

The latest initiative by Huawei, the world’s largest telecoms equipment supplier, shows its focus on expanding into industrial solutions.

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Banking & finance

HKMA reviewing digital banks’ evolution in next decade and AI’s impact on talent

The HKMA is assessing the way forward for the development of digital banking in the city and working with banks on the impact of AI on jobs in the industry.

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HKMA deputy CEO Arthur Yuen discussed a number of issues the regulator is pursuing to improve the city’s banking sector. Photo: Xiaomei Chen
Banking & finance

Hong Kong’s WeLab eyes setting up digital banks, selling tech in Southeast Asia

The fintech unicorn backed by billionaire Li Ka-shing is looking at setting up digital banks across Southeast Asia and providing its technology services to conglomerates in Malaysia, Vietnam, Thailand and the Philippines.

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The expansion plan forms part of the target the company set last year to grow its users to 500 million by 2032, according to founder Simon Loong. Photo: WeLab
China technology

Shanghai’s former ‘rust belt’ eyes small tech firms to complete digital economy

Shanghai’s northeastern Yangpu district , which has already attracted Big Tech firms such as Meituan and Bilibili, has set its sights on smaller technology businesses to form an ecosystem for its growing digital economy.

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Artificial intelligence

AI boom fuels demand for data centre deals in Asia-Pacific this year

Data centre deals in the Asia-Pacific this year are expected to surpass the region’s record tally of US$3.45 billion in 2023.

Banking & finance

China’s emerging markets ties are huge opportunity for B2B payments space: Ebanx

The Brazilian financial technology company is banking on demand for payment digitisation in the business-to-business space in China and increased adoption of digital payments in India.

Visitors check the booth of EBANX during Money 20/20 in Las Vegas, the United States, October 2023. Photo: Ebanx
Huawei

Huawei’s Richard Yu said to move up as chairman of firm’s consumer business

The leadership reshuffle at Huawei’s consumer business group comes as the company regains lost ground in China’s smartphone market and doubles down on electric vehicle systems.

Veteran Huawei Technologies executive Richard Yu Chengdong led the company’s march to become the world’s biggest smartphone vendor in the second quarter of 2020, months after the firm was blacklisted by the US government. Photo: Weibo
Hong Kong economy

Letters | By going digital, Hong Kong can shape the future trade landscape

Readers discuss what Hong Kong should focus on as it seeks to develop the digital economy, and tech glitches when using government platforms.

Banking & finance

HSBC summit: China’s young ultra-rich reshaping wealth management, art, luxury

Wealth management is transforming into ‘a new virtual format in addition to the traditional finance space’, asset manager says.

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Huawei

Huawei founder talks digital transformation, tech innovation with PetroChina head

The meeting underscores Huawei’s long-standing ties with PetroChina in projects that have helped modernise its operations in the energy industry.

Huawei Technologies founder and chief executive Ren Zhengfei. Photo: Xinhua
Artificial intelligence

UN to vote on first resolution on AI, ensuring tech’s safety and security

The United States, which sponsored the resolution, hopes the UN will adopt it by consensus, meaning it would be supported by all 193 member states.

Blockchain

Hong Kong’s CBDC trial and Ant’s blockchain are helping to digitise shipping

Hong Kong’s Global Shipping Business Network has finished a prototype of its first electronic bill of lading in collaboration with Ant Group’s ZAN blockchain unit.

Digital currencies

Hong Kong digital coin moves closer to public use with launch of phase 2 trials

The Hong Kong Monetary Authority has launched the second phase of a pilot programme to explore ‘innovative’ uses for a central bank digital currency (CBDC) for public use, five months after it unveiled the results of the first trial run.

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The second phase of the trial represents the next step towards introducing a virtual coin that the public may eventually use to shop, dine out, and transfer money. Photo: Shutterstock.
The Philippines

Microsoft to train 100,000 Philippine women in AI, cybersecurity

They will use an online platform to learn how to use Microsoft’s AI tools to gain workplace skills and to be able to recognise cybersecurity threats.

Commuters use their phones in an LRT train in Manila. Photo: Shutterstock
Banking & finance

Major Hong Kong banks to roll out additional anti-malware measures: HKAB

The Hong Kong Association of Banks, which represents all 160 banks in the city, also pledged to ensure personal data privacy as it steps up the mitigation of fraud risks.

China’s Communist Party

China launches nationwide survey on data resources, from AI firms to police

Related entities are being asked how they produce, store, circulate, trade, develop and use data, and also about data security. NDA says the goal is to provide support for future policymaking and establishing ‘data application demonstration zones’.

Digital currencies

Hong Kong proposes crypto reserve requirements aligned with global standards

The Hong Kong Monetary Authority has issued a consultation paper on adopting the reserve requirements for cryptoassets proposed by the Basel Committee in 2022.

Hong Kong proposes crypto reserve requirements aligned with global standards. Photo: AP
China's economic recovery

China’s focuses on digital economy to drive ‘common prosperity’ under Xi

China’s national development and data authorities have jointly released a plan to have digital technology support the development of the real economy

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China has the world’s second-largest digital economy after the United States, accounting for 41 per cent of its gross domestic product. Photo: AP
Banking & finance

HKMA to launch pilot scheme for Hong Kong banks to share account data

The Hong Kong Monetary Authority (HKMA) is set to launch a pilot programme that will enable customers to use a consent-based and secure way to share their account data with other banks.

Fashion

How tech is reshaping the sneaker space, from Nike’s RTFKT to 3D printing

Digitisation is transforming the sneaker industry, offering a host of new possibilities exemplified by Nike’s RTFKT Web3 studio, Zellerfeld’s 3D-printed shoes and design platform Sol3Mates.

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Digital Transformation
The Digital Transformation Series will examine the many factors driving businesses to seek digital solutions for their organisations — from consumer behavior, shifting market conditions, evolving economies, regulatory laws and increased competition — to the technologies that will lead the digital charge in the coming decades, including 5G, cybersecurity, artificial intelligence, cloud computing and automation. The series will dive deep into exploring the future of digital transformation in business and the crucial steps that leading executives must learn in guiding the future development and implementation of these technologies.
last updated:
9 September, 2024
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