TLDR:
- Hong Kong plans to build up its AI supercomputing power to attract international companies by 2030.
- The government will make the Innovation and Technology Venture Fund more aggressive and market-oriented.
Hong Kong’s technology minister, Sun Dong, revealed plans to establish 15,000 petaflops of AI computing power and enhance the city’s start-up fund. The government aims to attract private institutions to produce 10,000 petaflops by 2030, in addition to the 3,000 petaflops provided by the AI Supercomputing Centre. This initiative will provide the basic infrastructure needed for AI development and encourage international companies to invest in Hong Kong. Financial Secretary Paul Chan Mo-po announced a three-year AI subsidy scheme to support local universities and enterprises in utilizing the computing power of the AI Supercomputing Centre.
The Northern Metropolis project will transform 30,000 hectares of land into an economic center focusing on innovation and technology. Sun also emphasized the need for the manufacturing sector to contribute more to GDP and attract industry investments in I&T. By increasing the government’s involvement in funding and collaborating with private capital, Hong Kong aims to accelerate industry development.
Cyberport CEO Rocky Cheng Chung-ngam highlighted the importance of AI computing power for Hong Kong as a financial center and I&T hub. Lawmaker Duncan Chiu agreed that the government must lead in building up computing power and create a foundation for entrepreneurs and researchers. A gradual approach to establishing 15,000 petaflops is necessary to accommodate advancements in AI technology. Chiu also suggested exploring options like purchasing power from the mainland to address potential concerns about electricity costs.
