Chan Unveils HK$50 Million AI Training Push, Courses to Launch in November
AM730 · 2 SOURCESabout 1 hour ago2 MIN
Summary
Financial Secretary Paul Chan Mo-po announced on July 23 that the government has allocated HK$50 million to launch a Universal AI Training Program as part of this year's Budget. The Employees Retraining Board will partner with major technology companies to offer AI courses, expected to be available to all working Hong Kong residents starting in November. The initiative, coordinated through Digital Harbor, the Science Park, and the Hong Kong Productivity Council, aims to host over 200 activities by 2025, benefiting approximately 50,000 people. A cross-border tech enterprise survey reveals that nearly 70% of surveyed Hong Kong residents can use AI skillfully, with about 20% classified as super users. If Hong Kong's small and medium enterprises can match large enterprises in AI adoption by 2035, the city could unlock up to HK$65 billion in economic benefits.
Key Points
- The Budget allocated HK$50 million for the Universal AI Training Program, with various activities already underway
- The Employees Retraining Board will collaborate with large tech companies to roll out AI courses in November for all working individuals
- Over 200 training activities are planned for 2024-2025, targeting approximately 50,000 participants across three key platforms
- A survey found that 70% of Hong Kong residents can skillfully use AI tools, with 20% being super users of AI agents
- AI-related IPOs in Hong Kong raised approximately HK$100 billion from December 2023 to May 2024, accounting for 55% of total IPO fundraising
- Hong Kong exports recorded high double-digit growth for multiple consecutive quarters due to strong demand for advanced electronics and AI products
Why It Matters
The initiative positions Hong Kong to capitalize on AI adoption across industries, with projections suggesting potential economic benefits of HK$65 billion if SMEs accelerate AI implementation . The program also comes as Hong Kong hosts the Asia-Pacific Broadcasting Union Robotic Competition 2026 at Queen Elizabeth Stadium, featuring 16 teams from 15 countries and regions .
The initiative positions Hong Kong to capitalize on AI adoption across industries, with projections suggesting potential economic benefits of HK$65 billion if SMEs accelerate AI implementation . The program also comes as Hong Kong hosts the Asia-Pacific Broadcasting Union Robotic Competition 2026 at Queen Elizabeth Stadium, featuring 16 teams from 15 countries and regions .