Hong Kong to set up US$129 million R&D institute to boost tech-driven growth
Hong Kong has identified artificial intelligence (AI) as one of the key sectors to drive sustainable growth. It is aligning itself to China's national development, focusing on areas such as supercomputing capabilities, data and talent in AI. The city is also seeking to support local institutions in the tech sector, pumping in US$129 million to establish a new R&D centre. May Wong reports on how Hong Kong is faring in the local AI game.
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Straits Times
an hour ago
- Straits Times
Snap to launch smart glasses for users in 2026 in challenge to Meta
The company has invested more than US$3 billion (S$3.8 billion) over 11 years developing its augmented reality glasses. PHOTO: SPECTACLES/INSTAGRAM Snap to launch smart glasses for users in 2026 in challenge to Meta NEW YORK - Snap will launch its first-ever smart glasses for all consumers next year, ratcheting up competition with bigger rival Meta in the wearable technology market. The augmented reality (AR) smart glasses, called Specs, will be lightweight, the social media company said on June 10. Long known for its messaging app Snapchat and animated filters, Snap has been doubling down on AR, which can overlay digital effects onto photos or videos of real-life surroundings through a camera or lens. Integrating technology into wearable products can open up new lucrative markets and diversify revenue streams for Snap amid an uncertain digital ad market due to changing US trade policies. The company had launched its fifth generation of Spectacles glasses in September, but these were only available to developers. The company has invested more than US$3 billion (S$3.8 billion) over 11 years developing its augmented reality glasses, Snap co-founder and chief executive Evan Spiegel said at the Augmented World Expo 2025 on June 10. 'Before Snapchat had chat, we were building glasses.' The popularity of Meta's Ray-Ban Meta smart glasses developed in partnership with EssilorLuxottica have prompted companies such Google to explore similar investments. Meta continues to add AI features to its glasses to attract more consumers. Snap's Specs will be available in black to start, with special editions to possibly follow later, Mr Spiegel said in an interview. He did not disclose the price or hardware specifications, except to say that the glasses will cost less than Apple's US$3,499 (S$4,502) Vision Pro headset. The glasses also incorporate an artificial intelligence assistant, a way to play games with friends, and a 'workstation' area where users can do things like browse the web and stream video. 'We're really focused on and investing in glasses with things that the phone just isn't capable of,' Mr Spiegel said. Mr Spiegel teased a handful of upcoming hardware features and software capabilities, such as using AI to help change a tire, set the dining room table or nail a tricky billiards shot. New versions of Snapchat Lenses, the company's augmented-reality experiences, run the gamut from having an archery match with friends to playing a 3D version of the classic Snake game. Over 400,000 developers have built more than 4 million Lenses using Snap's tools, Mr Spiegel said. Specs will also integrate with various AI models, including those from OpenAI and Alphabet's Google, allowing developers to build AI-powered Lenses that can respond to various inputs in real time. The device will also support uses such as AI text translation, currency conversion and recipe suggestions based on what's in your refrigerator – capabilities that have already been built for the latest developer version of the company's smart glasses. As the wider tech industry grapples with concerns over AI and privacy, Mr Spiegel said his company is taking the issue seriously. 'Regardless of the demographic or age, privacy is incredibly important to us as a company and incredibly important for the future of these sorts of devices,' he said, adding that the device will strike a balance between providing the right features while protecting users' data. REUTERS, BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
2 hours ago
- Business Times
Gold rises as US-China trade uncertainty persists, investors eye inflation data
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Singapore Law Watch
2 hours ago
- Singapore Law Watch
Ong Beng Seng to plead guilty on July 3 in case involving ex-transport minister
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