Hong Kong forum praises move to encourage adoption of tech, highlights opportunities for Asia
Panelists discuss artificial intelligence and intellectual governance at the 6th annual Technology for Change Asia forum, which is being held on March 11-12 in the Hong Kong Special Administrative Region. (YANG HAN / CHINA DAILY)
China’s strategic initiative to promote the adoption of artificial intelligence (AI) is positioning the country to lead in a global landscape where trillions are being invested in AI and technological innovation. This perspective was highlighted at the 6th annual “Technology for Change Asia” conference in Hong Kong on March 11, where experts gathered to uncover pathways for businesses amid rapid technological shifts.
Tom Standage, deputy editor of The Economist, emphasized the importance of AI adoption during his opening remarks, stating, “It is noticeable that China’s government is really promoting the adoption of AI by companies and government bodies. I think this is a very smart strategy.” He pointed out that while AI technology may become a commodity, the real focus should be on its effective implementation, rather than who pioneered it.
Standage cautioned that, similar to the historical adoption of technologies like railways, electricity, and the internet, AI will likely encounter financial fluctuations and job displacement concerns before becoming mainstream. The two-day event organized by Economist Impact has brought together over 700 leaders from industry and government across Asia to explore solutions tailored to this era of change.
Amitabh Sarkar, vice-president and head of Asia-Pacific at Tata Communications, remarked on the impressive momentum in Asia, stating, “Asia is rocking.” He cited a report by U.S. venture capital firm Andreessen Horowitz, which ranks Hong Kong third in AI adoption per capita, trailing only Singapore and the United Arab Emirates. “In Hong Kong, 75 percent of financial institutions are piloting Gen AI use cases,” he noted, underscoring the region’s rapid embrace of AI technologies.
Hong Kong’s commitment to AI governance is exemplified by various guidelines designed to foster innovation. Brian Sun, assistant commissioner of data applications at Hong Kong’s Innovation, Technology and Industry Bureau, explained that the aim is to create a comprehensive framework that meets the diverse needs of various sectors. This governance model is seen as crucial for enabling a conducive environment for AI development.
Meanwhile, Thomas Tsang, deputy director of the Intellectual Property Department of the HKSAR government, highlighted the urgent need to address intellectual property (IP) protection as AI technology evolves. He pointed out that while copyrighted works could be utilized for AI training, many stakeholders are unclear about the relevant rules governing such practices. “This raises copyright concerns,” Tsang said, stressing the need to balance innovation with IP protection.
Charles Ross, head of policy and insights for Asia-Pacific at Economist Impact, expressed optimism about Hong Kong’s favorable policies and frameworks, suggesting these elements will foster investment in AI within the city. “I think it is more about the allocation of funds and giving the funds to the right people at the right time and building that ecosystem of entrepreneurship with the AI innovation,” he stated, adding that sustaining a local talent pool will be vital for achieving AI growth.
This conference not only indicates Hong Kong’s increasing role in the global tech ecosystem but also reflects a broader trend in Asia towards embracing advanced technologies. As the region continues to innovate and implement AI solutions, its leaders are anticipated to play a pivotal role in shaping the future of tech adoption and governance. The discussions at this forum highlight both the challenges and opportunities that lie ahead, positioning Asia as a significant player on the world stage of technological advancement.
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