SCMP x HKUST - Expert Insight Series 2017: Professor Xu Yan

The mention of the word "innovation", especially when linked to the telecommunications industry, usually conjures up images of new products and services  or new business models. But according to one of Hong Kong's leading telecommunications experts, the ability to use existing technology to improve existing products or services should not be overlooked.

"Innovation doesn’t always have to involve the use of cutting-edge technology, innovation can simply mean improving a product or process or delivering a service in a more efficient way," says Professor Xu Yan, associate dean of HKUST Business School (HKUST EMBA Program, Executive Programs and China Strategy) and professor of information systems, business statistics and operations management. He noted that while the rapid development of the internet has provided Hong Kong with a robust infrastructure to explore and exploit technology, the opportunities to develop new products and services or upscale existing technologies are not always utilised to the best advantage. 

"Hong Kong always ranks near the top of global competitiveness indexes, but in the sub-sectors of innovation and creativity, we usually rank below twentieth place on an international scale," says Xu. On the latest Global Competitiveness Index, Hong Kong was placed ninth, but below 25th place for the three previous years in the innovation bracket.