Hong Kong launches bay area’s first industry-focused AI research institute

A university in Hong Kong has founded the first industry-focused artificial intelligence (AI) research institute in the Greater Bay Area, with the city’s financial chief expressing hope that the facility will shape the future of AI and drive growth in the region and beyond.

The Hong Kong University of Technology and Innovation (HKUST) on Friday inaugurated the Von Neumann Institute dedicated to building a complete AI ecosystem, strengthening collaboration between industry, academia and research, as well as nurturing a new generation of AI talent through school outreach programmes.

“The establishment of the institute is another important step in advancing Hong Kong’s position as a global leader in AI innovation,” said Financial Secretary Paul Chan Mo-po at the inauguration ceremony.

“We hope that the Institute will become a platform that creates new pathways for application scenarios and commercialisation of AI, thereby contributing to Hong Kong’s evolving innovation ecosystem and advancement in AI,” he added.

“I wish the Institute every success in its mission to shape the future of AI for the prosperity of Hong Kong, our country and beyond.”

The Greater Bay Area is a national development blueprint that draws Hong Kong, Macau and nine Guangdong cities to become a new economic powerhouse for China.