Advertisement
Opinion
How AI can catalyse Hong Kong’s next big economic take-off
The policy address placed AI at the heart of economic strategy. It is time to match ambition with execution
3-MIN READ3-MIN
Listen
Jeffrey Wu is a director at MindWorks Capital, a leading Hong Kong-headquartered venture capital firm specialising in technology investment across Greater China and Southeast Asia.
Hong Kong’s economic story has always unfolded in cycles of innovation. Finance made it a global hub. Real estate later became a backbone. Both engines now face structural limits. As global competition intensifies, the question is what Hong Kong’s new growth engine will be.
The policy address offers a clear signal: artificial intelligence (AI) is a policy priority. With Hong Kong Investment Corporation (HKIC) tasked with channelling capital into frontier industries, AI has been elevated as a potential catalyst for the city’s next economic take-off. The opportunity is real, but success will hinge on whether capital, talent and infrastructure can be aligned into a coherent strategy.
Globally, AI is reshaping innovation. Last year, it commanded an outsize share of the US$314 billion in venture investment worldwide. But the distribution is far from balanced. Asia attracted just US$65.8 billion, a decade low, while US players like OpenAI and Anthropic raised sums that eclipsed entire regions. In the first quarter this year, Asia’s AI start-ups captured less than 10 per cent of global AI funding.
Select Voice
Select Speed
1x
AI-generated voice