TOPIC

Digital Transformation

Digital Transformation
The Digital Transformation Series will examine the many factors driving businesses to seek digital solutions for their organisations — from consumer behavior, shifting market conditions, evolving economies, regulatory laws and increased competition — to the technologies that will lead the digital charge in the coming decades, including 5G, cybersecurity, artificial intelligence, cloud computing and automation. The series will dive deep into exploring the future of digital transformation in business and the crucial steps that leading executives must learn in guiding the future development and implementation of these technologies.
China has reached an all-time high of 12th place among 69 economies in terms of overall digital competitiveness, according to new findings by the International Institute for Management Development. Image: Shutterstock
China's economic recovery

China’s digital competitiveness hits high amid trade-splintering worries: survey

China’s R&D and tech innovation boost its digital competitiveness, but geopolitical headwinds pose growth risks, according to Swiss academic institute.

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Fintech

Hong Kong unveils fintech strategy to future-proof the city in AI, tokenisation

Artificial intelligence

Chinese AI model developers seek fast commercial adoption as training costs fall

China's economic recovery

China bets on AI to pump trillions into economy amid national computing push

With artificial intelligence a critical battleground in the China-US rivalry, a national computing network has already signed up more than 100 AI models.

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People attend the launch event of the first commercial application of artificial intelligence for the mining industry in China’s Shandong province in 2023. From 2023 to 2028, China’s smart computing power is expected to grow at a compound annual rate of 46.2 per cent, a new report shows. Photo: EPA-EFE
Artificial intelligence

China Telecom unit says AI wave drives steady growth in digital services market

China Communication Services sees the proliferation of AI projects accelerating digital transformation across thousands of industries.

Decoding AI

AI literacy is key as Hong Kong embraces tech transformation

Experts gear up to move into the new era, with campaigns like Just Start set to teach AI skills to 1 million people in the city.

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Artificial intelligence

China, No 2 in global computing power, accelerates build-out as AI race heats up

China has invested massive resources to build digital infrastructure and plans an even stronger push in the future.

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Engineers work at a supercomputer centre in the central Chinese city of Wuhan. China trails only the United States in computing power after a massive push to build digital infrastructure. Photo: AFP
E-commerce

Meituan, JD.com build central kitchens to ratchet up China’s delivery war

China’s catering industry is transforming, as internet platform operators become more involved in the food supply chain.

Banking & finance

Citigroup to explore stablecoins as Hong Kong and US regulations evolve

Clients are eager but seek clarity on use cases and the coins’ impact on balance sheets and liquidity, US bank’s head of services says.

Hong Kong politics

Hong Kong to mandate digital job applications for civil service

Digitalisation drive aimed at improving recruitment efficiency and the use of resources.

From July 1, all applications for civil service jobs must be submitted electronically, unless stated otherwise. Photo: Sun Yeung
Biomedicine: Companies

Hong Kong medical device maker to expand China facility amid US, EU barriers

Vincent Medical reconsiders plan to build new facilities in low-cost manufacturing locations abroad as US tariff threats linger.

Vincent Medical Holdings CEO Raymond Choi Cheung-tai. Photo: Edmond So
Banking & finance

Hong Kong’s digital banks seek post-Covid growth in wealth management

Hong Kong’s digital banks plan to expand wealth management businesses as deposits and loans surge.

Hong Kong Monetary Authority (HKMA)

HKMA to help banks assess firms for trade financing by using cargo data

HKMA launches CargoX, leveraging cargo data to enhance trade financing for SMEs amid global tariff concerns.

Banking & finance

Hong Kong to unveil 3 e-banking security measures to combat financial fraud

The HKMA’s ‘E-Banking Security ABC’ measures will enhance online banking security, deputy chief executive Arthur Yuen says.

The HKMA has stepped up its vigilance against online banking fraud. Last year, the city’s residents lost HK$9.15 billion to scamsters. Photo: Jelly Tse
Banking & finance

Hong Kong’s finance sector embraces GenAI, with adoption to reach 90% in 5 years

GenAI applications have the potential to lead to a more curated customer experience, Academy of Finance CEO Enoch Fung says.

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Enoch Fung (left), CEO of the Hong Kong Academy of Finance and executive director of Hong Kong Institute for Monetary and Financial Research (HKIMR), and Giorgio Valente, head of HKIMR, release a report titled “Financial Services in the Era of Generative AI: Facilitating Responsible Adoption” on Wednesday. Photo: Handout
Artificial intelligence

Tencent ramps up global AI efforts with advanced Hunyuan 3D-generation system

The open-source Hunyuan3D 2.0 is expected to lower barriers to entry for using AI models across video gaming, social media and other sectors.

India

Shock and gore: why Indian street plays resort to the outrageous and grotesque

Street theatre in India has had to adapt to the digital age and ideological threats to stay relevant amid a changing cultural landscape.

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Education in Hong Kong

Letters | Yidan Prize laureate shows the power of digital education

Readers discuss the two lessons for Hong Kong educators, elderly couples renewing their marriage vows, sexual harassment at music festivals, and improvements for weather service.

Hong Kong students sit for the DSE Chinese-language exam at a Tai Po school on April 11. Hong Kong should consider transitioning the paper-based DSE examinations to digital formats. Photo: Handout
Artificial intelligence

Tsinghua University-fostered start-up to widen test of AI-based virtual hospital

The Agent Hospital developed by Tairex, formed under Tsinghua’s Institute for Al Industry Research, will conduct public tests next year.

Yuan

China’s digital yuan roared out of the gate, but stumbling blocks have popped up

Corruption and a slow adoption of the e-CNY risk undermining the groundbreaking progress that China’s digital currency has made over the past decade.

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Artificial intelligence

Hong Kong enterprise AI adoption sees upswing on strong government policy

Enterprises in Hong Kong are looking to explore AI solutions that not only enhance their capabilities, but also meet regulatory requirements.

Computer maker Dell is seeing increased inquiries in Hong Kong to implement artificial intelligence in various enterprises. Photo: Shutterstock
Transport and logistics

What China is doing to make ports ‘smart’ and not prone to work stoppages

A unit of state-owned China Merchants Group is pushing a range of automation and digital technologies to make ports smarter.

Cargo containers stacked at the Yantian terminal in the Port of Shenzhen. Photo: AFP
Banking & finance

HKMA expands data platform to help SMEs open bank accounts

The HKMA has expanded its Commercial Data Interchange electronic platform designed to help SMEs by linking up with the Companies Registry to share more data with banks.

India

Showtime or shutdown? India’s storied cinema halls struggle in streaming era

A cultural identity forged over decades hangs in the balance as India’s small cinema owners battle to survive digital disruption.

Artificial intelligence

HKMA, Cyberport collaborate on GenAI sandbox to support adoption in banking

The sandbox serves as a framework, with computing resources and supervisory guidance, to help banks test and build their GenAI applications.

The AI-generated avatars of HKMA chief executive Eddie Yue Wai-man and deputy chief Arthur Yuen Kwok-hang at the GenAI sandbox launch on Tuesday: Photo: HKMA
Artificial intelligence

Equinix to spend US$124 million on 6th Hong Kong data centre amid AI boom

The company plans to eventually house 3,550 cabinets in the Tsuen Wan facility, offering greater energy efficiency that may appeal to AI service operators.

An undated photograph of the data centre managed by Equinix in Hong Kong. Photo: Equinix
Technology

Effects studio behind Marvel’s Avengers to set up Hong Kong R&D centre

Digital Domain’s research and development centre in Hong Kong will focus on artificial intelligence-powered virtual humans and their application in service-oriented environments.

China jobs

My Take | China faces tough balancing act to embrace tech, while losing traditional jobs

The transition to robotaxi services comes at a time when China is in a race to lead the world in the adoption of autonomous vehicle and artificial intelligence technologies.

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