Hong Kong’s government-owned wealth fund has partnered with one of China’s leading artificial intelligence agencies to attract global talent to the city, as it strengthens its commitment to transform into a technology hub.
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As part of the inaugural AI Global Talents Connect initiative, the Hong Kong Investment Corporation (HKIC) would collaborate with the Beijing Academy of Artificial Intelligence (BAAI) to establish an “international hub for AI talent”, the two organisations said on Tuesday.
The project aimed to “connect representatives from academic research, investment, industry and government sectors to [facilitate] cross-jurisdictional and cross-sectoral dialogue”, HKIC CEO Clara Chan Ka-chai said.
“Hong Kong is really well-positioned to play a leading role in facilitating AI investment and development globally with our roles as superconnector and super-value-adder,” Chan noted.
HKIC describes its investment strategy as “patient capital”, aimed at fostering innovation with a long-term perspective. It manages HK$62 billion (US$8 billion) and has invested in more than 120 projects. Two of those companies had gone public in Hong Kong, while more than 10 planned to list this year, Chan said.
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HKIC possesses “strong capital and commercial operation capabilities”, while BAAI brings expertise in talent development, technical knowledge and the AI ecosystem, according to BAAI head Wang Zhongyuan. The collaboration was expected to enhance Hong Kong’s “new positioning as a technology-driven city”, he said.