The "AI+" initiative is a crucial direction for the continued promotion of innovation and technology development in Hong Kong and the cultivation of new quality productive force. To accelerate the development of the artificial intelligence (AI) industry in Hong Kong, support from the business community and the public is essential, in addition to investments from the government and researchers.
The Ng Teng Fong Charitable Foundation and the Sino Group recently announced a donation of HK$200 million to support the Hong Kong Generative AI Research and Development Center (HKGAI) under the InnoHK platform. This funding will aid the research and application of AI large models, including the development of the first generative AI large model, HKGAI V1. This system aims to create a mobile service platform for public use, enhancing the daily lives of citizens.
Govt's Commitment
Financial Secretary Paul Chan emphasized the importance of promoting effective collaboration among government, industry, academia, research, and investment sectors to accelerate the development of AI as a key industry. He noted that during the recent Two Sessions, Premier Li Qiang's government work report highlighted the need to advance the "AI+" initiative and support the widespread application of large models.
Chan also stated that AI technology is rapidly evolving and reshaping the global economic landscape, enabling traditional industries to upgrade and transform, and fostering new business models and services. He pointed out that Hong Kong possesses unique advantages in this field, with three local universities ranked in the top 25 globally for data science and AI. The region can leverage its status as an international financial center and a hub for talent, thus providing efficient funding and support for AI startups and projects.
Future Prospects
The latest Budget includes increased resources to enhance key elements such as computing power, algorithms, data, talent, and funding for AI development. A budget of HK$1 billion has been allocated to establish an AI research institute, which will promote upstream research and downstream applications.
The donation will specifically fund the development of the HKGAI V1 model based on DeepSeek training. Secretary for Innovation, Technology and Industry Sun Dong remarked on the collaboration between the government, businesses, and the research community, which is vital for accelerating AI development in Hong Kong.
Commitment to Inclusive AI Development
Daryl Ng Win-kong, Deputy Chairman of Sino Group, stated that technological and industrial innovation is fundamental to developing new productivity. He expressed the importance of cultivating innovative tech talent and promoting technological exchange.
"Through this donation, we aim to support the open access of locally developed AI services for the industry and the public, fostering a more inclusive AI future and enhancing the quality of life for Hong Kong residents."
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