Latest news with #IDIA
Yahoo
27-05-2025
- Business
- Yahoo
KN Group Leads International Data Industry Ecosystem
Global Summit of International Data Industry Alliance Convenes Successfully HONG KONG, May 28, 2025 /PRNewswire/ -- The International Data Industry Alliance Global Summit, co-organized by KN Group and the International Data Industry Alliance (IDIA), was successfully held today. The Summit attracted over one hundred distinguished guests, including representatives from Hong Kong data industries, technology enterprises, financial and academic sectors, as well as and government officials overseeing digital economy initiatives from Thailand, Indonesia, the Philippines, and Pakistan. Participants engaged in comprehensive discussions on cross-border data collaboration, security, compliance, and scalable technology adoption. Distinguished officiating guests included Mr. Paul Chan, Financial Secretary of the Hong Kong SAR Government; Mr. Allen Yeung, Honorary Chairman of IDIA; Professor Herbert Chia, Co-Chairman of IDIA; and Mr. Leo Chen, President of KN Group. As a leader in the international data ecosystem industry, this summit is organized with the strong support of KN Group, aiming to bring together businesses in the fields of science, technology and innovation, and to provide a platform for participants to collaborate, thereby building deeper partnerships and laying a foundation for the future development of global digitization. Mr. Paul Chan, the Financial Secretary of the HKSAR Government, said "Data is transforming industries, business models, and the way we live. With the rise of artificial intelligence (AI), the potential for data to unlock new use cases and opportunities is immense. In Hong Kong, we are committed to a digital strategy that embraces openness, global connectivity and value creation. This includes sharing more data to broaden application scenarios, facilitating cross-boundary data flows, supporting the development of AI as a core industry, and more. To drive an AI-powered digital economy, we must focus on expanding our talent pool and enhancing the community's digital literacy. At the same time, we need to review legislation and regulations to foster innovation and create new application scenarios, while building a robust data governance framework that ensures data security. As a 'super connector' and 'super value-adder,' Hong Kong can play a unique role in fostering international cooperation within the data industry to co-create a more inclusive and sustainable digital future." Mr. Leo Chen, President of KN Group, stated, "Data is the core asset of digital development, yet its true value lies in secure and efficient global circulation and application. As a host of this Summit, we leverage our extensive expertise in artificial intelligence, data compliance management, and cross-border resource integration to advance the Alliance's initiatives. KN Group will harness our industry network across Southeast Asia to collaborate with the Alliance in establishing a regional data-sharing platform. This will foster technological cooperation and standards alignment among multinational enterprises, driving balanced development of the regional digital ecosystem." As one of the core founding members of IDIA, KN Group has 10 years of experience in the financial technology sector. With hundreds of millions of credit assessments, over 60 million users and over 200 partner organizations, KN Group is able to provide real-world experience for the development of the digital economy in Hong Kong and around the world. Mr. Andy Jiang, Vice President of KN Group, stated, "The globalization of data elements requires the dual-wheel drive of technological innovation and institutional innovation. As an enterprise deeply engaged in the international market, we deeply understand that the differences in data standards and asymmetric infrastructure between regions are the main bottlenecks in cross-border collaboration." Following the opening ceremony, the Summit featured keynote speeches and panel discussions on topics such as national data industry development, cross-regional collaboration, AI-driven data applications, and compliance. Participants concurred that the integration of data and emerging technologies will redefine global supply chain competitiveness. KN Group maintains that only through the establishment of an integrated ecosystem combining"technology, regulation, and humanistic values" can the cross-domain potential of data as a key element be fully unlocked. Looking ahead, KN Group remains committed to deepening global partnerships to pioneer best practices in data security, compliance, and commercialization, fostering an open and interconnected digital economy. - End - About KN Group Established in 2014, KN Group is a financial technology company with a core focus on artificial intelligence and big data. Its vision is to make financial services more accessible, convenient, and fair. Leveraging AI technology, KN Group has developed comprehensive assessment models to effectively evaluate customer credit risks, gain deeper insights into customer needs better through extensive infrastructure, provide more personalized services, and identify and manage risks more efficiently. KN Group is one of the strategic enterprises introduced under the Hong Kong Office for Attracting Strategic Enterprises (OASES). Adhering to the strategy of "rooted in Hong Kong, covering ASEAN, and reaching out globally," the Group has progressively expanded its international presence. Its business now spans multiple regions, including Thailand, the Philippines, Indonesia, Pakistan, and Mexico. The Group's international headquarters is based in Hong Kong, where its treasury center and technology research and development teams are also located, and it is actively recruiting additional talent. Over the next three years, KN Group aims to enhance smart finance services across diverse markets and drive the development of inclusive finance. View original content to download multimedia: SOURCE KN Group Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
South China Morning Post
27-05-2025
- Business
- South China Morning Post
Hong Kong embraces data trading as economic engine, finance chief says
Hong Kong is ramping up efforts to become an international data-trading hub by forging ties with mainland China and Southeast Asia, as cross-border data sharing is a new engine of an AI-driven economy that will benefit people and businesses, said Financial Secretary Paul Chan Mo-po 'We are also committed to opening and sharing data that the private sector and academia can use,' Chan said on Tuesday at the inaugural International Data Industry Alliance (IDIA) Global Summit in Hong Kong. The government's open data portal offers more than 5,600 data sets and recorded more than 60 billion downloads in 2024, he said. The value of data is 'immense', Chan said, adding that China's digital economy delivered more than US$4.8 trillion in revenue last year. That value would only rise as artificial intelligence (AI) large language models – driven by high quality, accessible data – unlocked new industrial and commercial opportunities, he said. More than 100 representatives from Hong Kong's data industry, technology enterprises, financial companies and the academic sector discussed cross-border data collaboration, security, compliance and scalable technology adoption at the summit. Government officials responsible for digital-economy initiatives in Thailand, Indonesia, the Philippines and Pakistan were also present at the event. The Commercial Data Interchange launched by the Hong Kong Monetary Authority in 2022 had processed more than 20 million data exchanges as of April 2025, enabling faster credit assessments and making loans more accessible to small and medium-sized enterprises, Chan said. Hong Kong 'remains an open, diverse and international city with the free flow of goods, capital talent and crucial data' under the one country, two systems framework, serving 'as a superconnector between China and the rest of the world', he added.
