logo
Hong Kong eyes AI as among key sectors to drive growth

Hong Kong eyes AI as among key sectors to drive growth

CNA06-05-2025
HEALTHCARE SECTOR AND AI
Hong Kong's medical sector is one of multiple industries that has seen a massive push towards AI in recent years.
One such AI-driven medical platform is MedDr, developed by the Hong Kong University of Science and Technology (HKUST).
The service helps to conduct a pre-consultation screening for patients before they see a doctor.
A patient presenting a fever, for example, will be prompted by the machine to check for other symptoms such as a cough, runny nose or body aches.
Working like a "medical GPT", MedDr's model can answer questions, generate medical reports and provide initial diagnoses based on medical images.
The system raises the efficiency of clinical work and helps save time so that doctors can focus on patients' treatment.
Another locally developed AI project called MOME (Mixture of Modality Experts) helps to diagnose breast cancer.
It can distinguish between malignant and benign breast lumps using magnetic resonance imaging (MRI) scans without the need for invasive biopsies.
The model achieved an accuracy level comparable to radiologists with more than five years' experience, according to Dr Hao Chen, who leads the two AI projects.
Dr Chen said that with a good digital infrastructure, large-scale data can be collected from across hospitals, pooling knowledge and resources.
'For the whole career of a doctor, they can't see a million cases. (But) AI-models, by learning from the large-scale data, can mine the knowledge,' said the assistant professor at HKUST's department of computer science and engineering.
'The AI models can provide more objective information here and it can reduce the inconsistencies and facilitate the improvement of the accuracy.'
Both projects are in the final phase of pilot testing with local hospitals.
MedDr is expected to be launched later this year while MOME is expected to launch next year after obtaining official medical approval. The two projects will initially be introduced in up to five hospitals in the city and wider in China.
DEVELOPING AI
Aside from universities, companies in the bustling financial hub are also jumping on the AI bandwagon, driven by its potential for increased efficiency, cost savings and revenue growth.
Consultancy firm Deloitte, for instance, started its own AI Institute in the city in 2023 to develop customised projects for clients.
One of its recent AI-powered advancements is a system that can handle over 10,000 documents, superior to a chatbot that clients previously used, which could only handle two to three documents.
Dr Leo Ma, dean of the Deloitte AI Institute (Hong Kong), gave an example of the research process by agents from its insurance clients, that used to take hours and could be inaccurate due to human error.
But with AI, the system collates and summarises the data almost immediately, he said, adding: 'They can use their own tablet to search for the answer that they want and it's very efficient and quick.'
FRAMEWORK AND EDUCATION
Compared to other Chinese cities like Shenzhen and Hangzhou – early movers in AI development – Hong Kong appears to be late to the game.
However, some experts believe Hong Kong does not need to play catch-up.
Instead, they said the city should tap on its financial hub status to ramp up AI development targeted at this sector and also take the lead in devising AI regulations.
'At the moment, the AI regulatory framework is still weak. In the future, the government should set up a regulatory framework to show how to appropriately develop AI and guide AI usage,' said Dr Jack Jiang, an innovation and information management professor at the University of Hong Kong Business School.
He noted it is critical to develop official guidelines on the safe and responsible use of AI, such as how chatbots react to unethical questions.
Dr Jiang said the school has included foundational knowledge on AI into some of its curriculum and will mount a module on AI literacy for all undergraduate students. Such basic knowledge on AI is set to become increasingly important as AI becomes utilised and embedded in work processes.
He added the school plans to launch at least two new programmes on AI next year.
Individuals are also learning AI on their own time or as a mid-career switch.
Banker Frank Shum told CNA he quit his job to return to school last year to pursue a Master's in Business Analytics in AI.
Mr Shum, who graduates in 2026, believes that understanding and knowing how to utilise AI will help in his future career when he returns to banking.
"During my work, I witnessed that businesses are taking initiative to automate the processes and leveraging AI technology. I can see that it's just the beginning, and AI is going to transform our workplace," the 29-year-old said.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Hong Kong stablecoin bill's client identity rules spark industry concern
Hong Kong stablecoin bill's client identity rules spark industry concern

CNA

time07-08-2025

  • CNA

Hong Kong stablecoin bill's client identity rules spark industry concern

HONG KONG :The strict customer identification rules mandated in Hong Kong's new stablecoin law could hinder adoption of the digital currency and the city's competitiveness in global digital finance markets, sources from the industry said. Hong Kong's long-awaited stablecoin ordinance took effect on August 1 and positions Hong Kong as one of the first markets globally to regulate fiat-backed stablecoin issuers, giving it an early-mover advantage that helps its bid to become a virtual asset hub. But the finalized know-your-customer (KYC) rules which require issuers to verify the identity of every stablecoin holder go against the principles of secrecy and privacy in cryptocurrency markets and have caught the industry off guard, the sources said. The de facto central bank, the Hong Kong Monetary Authority (HKMA), said such measures are essential for combating money laundering and terrorism financing as the regulator wants to take a more prudent approach at the initial stage. Market participants warned that the level of scrutiny could discourage usage. 'This is a bit too strict and not good for acquiring users,' said Bo Tang, head and assistant director at HKUST Institute for Financial Research. Tang said such rules could mean if a business is doing cross-border payments using Hong Kong-regulated stablecoins, the client - as a receiver of stablecoins - would need to open an account in Hong Kong just to pass KYC checks. If stablecoin transactions become nearly fully real name-based, they lose most advantages over traditional payments such as efficiency and privacy, Tang said. Stablecoins are a type of cryptocurrency designed to maintain a constant value and are usually pegged to a fiat currency such as the U.S. dollar. Their underlying blockchain technology enables instant, borderless and round-the-clock transfer of funds at low cost, giving stablecoins the potential to disrupt traditional daily money moves and cross-border payment systems. Some say Hong Kong's KYC rules are tougher than those in the U.S., where President Donald Trump signed the GENIUS Act in July, the country's first major crypto law with a focus on stablecoins. 'It's not just KYC for those with accounts with the stablecoin issuer, it's KYC for every stablecoin holder,' said Ricky Xie, a Hong Kong-based crypto trader, noting that many overseas users may opt out because of this. Market watchers expect the high compliance bar could exclude a wide range of existing stablecoin users who rely on so-called unhosted wallets for trading, usually anonymous. The main HKMA-regulated stablecoins users are likely to be mainland Chinese companies using them for cross-border money transfers, trade, payments and remittances, said Peter Brewin, PwC's digital assets Asia lead. HKMA expects the first batch of Hong Kong stablecoin issuer licences will be granted early next year and emphasized that only "a handful" of licences will be granted. HKUST's Tang said HKMA's tight regulation might be to contain the frenzy in Hong Kong among investors chasing the rally in companies with plans to invest in stablecoins and digital assets.

Taiwanese authorities detain three over alleged theft of TSMC chip secrets
Taiwanese authorities detain three over alleged theft of TSMC chip secrets

Business Times

time05-08-2025

  • Business Times

Taiwanese authorities detain three over alleged theft of TSMC chip secrets

[TAIPEI] Taiwanese authorities have detained three people for allegedly stealing technology trade secrets from Taiwan Semiconductor Manufacturing Co (TSMC), the world's largest chip foundry, Taiwanese prosecutors said on Tuesday (Aug 5). The three were detained late last month after TSMC reported that an internal investigation had shown that former and current employees had illegally obtained information from the company, the Taiwan High Prosecutors Office said in a statement. The prosecutors office said another two people had been released on bail, and one more had been released. The three who have been detained – two current staff and one former employee – are suspected of violating Taiwan's national security law, it added. It did not disclose their identities apart from saying that the former staffer was surnamed Chen. Earlier on Tuesday, TSMC said it had launched legal proceedings and taken disciplinary action against employees involved in potential trade secret leaks after detecting unauthorised activities during routine monitoring. It said its 'comprehensive and robust monitoring mechanisms' enabled early identification of the issue, leading to internal investigations and measures against the personnel involved. TSMC said the legal case, which is now under judicial review, prevented it from providing further details. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Nikkei Asia earlier reported that the breach involved several former employees suspected of attempting to obtain critical proprietary information on TSMC's two-nanometre chip technology. There were no immediate details on the suspected motives or whether any information had been passed on, and investigations are ongoing to determine the scope of the leak and whether any others were involved, the Nikkei report said. Taiwanese media outlet United Daily News said prosecutors and investigators had also searched the offices of Tokyo Electron, without citing where they had obtained the information. Tokyo Electron and the prosecutors' office declined to comment. TSMC's two-nanometre chip technology is the most advanced technology in the semiconductor industry in terms of both density and energy efficiency, according to the company's website. The contract manufacturer, which counts AI industry darling Nvidia, iPhone maker Apple, and Qualcomm among its customers, highlighted its zero-tolerance policy for trade secret violations, and said it would pursue offenders to the full extent of the law. REUTERS

HK universities see success in drive to attract more top talent from abroad
HK universities see success in drive to attract more top talent from abroad

Straits Times

time01-08-2025

  • Straits Times

HK universities see success in drive to attract more top talent from abroad

Sign up now: Get ST's newsletters delivered to your inbox The city has also been increasingly aligning its economic development with China's objectives. – Professor Gao Yang, a prominent scholar in the fields of robotics and aerospace, left King's College London to join the Hong Kong University of Science and Technology in May after being approached to take up new roles there. While her move back to Asia was primarily driven by her family's needs, she said Hong Kong's current focus on developing its scientific fields at a world-class level as a strategic driver for long-term growth was a major pull factor for her. At the same time, the geopolitical and economic climates elsewhere in the world – in particular Western countries – have become increasingly challenging for academics to navigate. Said Prof Gao: 'Compared with the greater uncertainties in the UK and Europe, the situation in Hong Kong in terms of the volume and scale of support poured into research, innovation and commercialisation looks a lot more positive, stable and sustainable. The investment in (my field of) aerospace programming definitely seems more determined and committed.' The mainland China-born academic, who has spent 20 years teaching in the United Kingdom after a decade of studying in Singapore, now heads HKUST's Centre for AI Robotics in Space Sustainability and Space Science and Technology Institute, and teaches at its department of mechanical and aerospace engineering. Professor Gao Yang, from the Hong Kong University of Science and Technology's department of mechanical and aerospace engineering. PHOTO: HONG KONG UNIVERSITY OF SCIENCE AND TECHNOLOGY Prof Gao is one of the successes that Hong Kong is seeing in its drive to attract more international talent to teach at the city's top universities. It comes as the Asian financial hub ramps up efforts to develop its artificial intelligence and science, technology, engineering and mathematics (STEM) industries as engines to power future growth in the city. Top stories Swipe. Select. Stay informed. Tech Reporting suspected advanced cyber attacks will provide a defence framework: Shanmugam Singapore Tanjong Katong sinkhole: Road will progressively open to motorists from Aug 2 noon World Trump modifies reciprocal tariffs ahead of deadline; rate on Singapore remains at 10% Business Singapore's US tariff rate stays at 10%, but the Republic is not out of the woods yet Singapore Thundery showers expected on most days in first half of August Singapore Synapxe chief executive, MND deputy secretary to become new perm secs on Sept 1 Singapore 5 women face capital charges after they were allegedly found with nearly 27kg of cocaine in S'pore Business Sumo Salad had valid insurance coverage for work injury claims: MOM The city has also been increasingly aligning its economic development with China's objectives , which include ramping up technological innovation and scientific research in competition with the US. Statistics from some Hong Kong universities have shown a notable rise in new faculty appointments from abroad. But that many of these scholars are of mainland Chinese origin has raised some concerns about talent diversity. One of the city's eight publicly funded universities, HKUST said it had 'welcomed more than 100 top scholars and scientists from mainland China, the United States, Germany, France, South Korea, Singapore and other countries' since it started a global recruitment campaign in October 2022. It 'aims to hire another 100 faculty members', the university told The Straits Times. The Chinese University of Hong Kong (CUHK), also publicly funded, told ST it had 'recruited over 150 leading international and promising young scholars from 15 regions including mainland China, Taiwan, Singapore, South Korea, Australia, New Zealand, Europe and North America' since 2023. Its programmes have been 'attracting top non-local research talents to Hong Kong to participate in innovation and technology development', it added. Hong Kong's education chief Christine Choi also revealed in April that 'world-renowned professors from US institutions are relocating to Hong Kong', driven by tighter visa policies and geopolitical tensions affecting traditional Western study destinations. She declined, however, to provide more details citing a 'need for discretion to ensure smooth transitions'. Among prominent international scholars who have relocated to Hong Kong over the past year are meteorologist Chen Fei, who worked in the US National Centre for Atmospheric Research for 26 years, and Harvard University-trained economist Jin Keyu, who was a tenured professor at the London School of Economics for 15 years. Both academics joined HKUST. HKUST has been among the most proactive of the city's tertiary institutions in taking advantage of global developments to attract international talent, academics and students alike, to Hong Kong. In May, it promised unconditional offers to Harvard University students immediately after the US government moved to halt foreign enrolment at the college. In Britain, its flagging economy has affected research funding for many academics as grants are based on a proportion of the country's gross domestic product, noted Prof Gao. 'As this situation carries on, it is likely to affect more domains and bring more academics to Asia,' she told ST. Of her experience in Hong Kong so far, Prof Gao said she was 'completely surprised and amazed by the proactive engagement from sectors including the decision-making think tanks, businesses, the government and industry to build dialogue' in her field. 'Such seamless collaboration between the scientific community and think tanks will help make a more profound impact on society beyond just academia,' she added. Over at CUHK, global STEM scholar and prominent mathematics professor Wei Juncheng moved back to Hong Kong in late 2024 after 11 years of teaching at the University of British Columbia (UBC) in Canada. Professor Wei Juncheng, Choh-Ming Li Professor of Mathematics at the Chinese University of Hong Kong. PHOTO: COURTESY OF PROF WEI JUNCHENG Prior to his stint at UBC, Wuhan-born Prof Wei, 57, had taught for 18 years at CUHK after obtaining his PhD from the University of Minnesota in the US. 'In the last few years, tensions between the US and China have somehow also spilled over into Canada, affecting the environment in academia as well,' Prof Wei told ST. 'Applying for research grants has become more difficult and political for some academics (in Canada),' he said, adding that many mainland-born scholars applying for funding were now required to fill up more forms delving into their backgrounds and specify that they were not researching in areas of strategic sensitivity or that would help China. Tighter visa restrictions have also impeded global exchanges as the once-frequent Chinese government-sponsored academic visitors can no longer obtain visas to visit Canadian universities for learning and collaboration, he added. There have also been reports of Chinese authorities restricting educators from leaving the country or visiting universities overseas. Prof Wei said he has observed a large and growing number of mainland-origin academics leaving the West in recent years. 'Despite having been educated in the US, many of my mainland-born academia friends there have moved back to China, with the influx accelerating especially in 2025,' he said. 'I chose to return to Hong Kong as I'm already familiar with CUHK's environment and I still prefer the internet and academic freedom we enjoy here.' The recent inflow of internationally trained scholars into Hong Kong comes after the city's public universities reported a record number of academic staff departures two years ago. Some 7.6 per cent of staff, or 380 out of about 5,000 in the eight institutes, quit in the 2022/2023 academic year, while 7.4 per cent left the year before. The departures coincided with a mass exodus of both local and foreign talent following the Covid-19 pandemic and the imposition of a national security law in Hong Kong in 2020. Some analysts have raised concerns, however, that those hired to fill the vacancies are tilted heavily towards mainland-born scholars, potentially affecting academic diversity. Mainland-origin academics have outnumbered their local counterparts at nearly all of the eight publicly funded universities since 2023. Some 41 per cent of all of the institutes' academic staff are now from mainland China, according to official data. Student numbers in Hong Kong's universities have also increasingly veered towards mainlanders, accounting for 74 per cent of the city's pool of non-local first-year students in the 2024/2025 academic year. Hong Kong's growing numbers of mainland-born academics are due to both push and pull factors, according to Associate Professor Alfred Wu, from the Lee Kuan Yew School of Public Policy in Singapore. 'The push factor is the increasing difficulty for these scholars to continue operating in the West, while the pull factor is that – with Hong Kong now paying a lot more attention to research that integrates well into the Greater Bay Area's (GBA) development plans – it makes academic collaboration much smoother for these scholars as they understand mainland Chinese culture much better,' Prof Wu told ST. The GBA refers to the region comprising Hong Kong, Macau and nine cities in mainland China's Guangdong province. But the consequent drop in diversity within academia could hinder the city's ability to innovate, adapt to global changes and maintain its competitiveness as an international hub, Prof Wu suggested. 'People need to think long term – having diversity means that we try to reduce our risks by not putting all our eggs into one basket,' he said. 'Decreasing diversity in Hong Kong universities may not be a problem now, but the situation may be different a decade or two down the road if Hong Kong's focus for growth has to shift away from its alignment with mainland China.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store