Hong Kong unveils ambitious AI research institute with $1 Billion investment

The new Hong Kong AI Research and Development Institute, backed by a substantial allocation of HK$1 billion from the government, is set to begin operations as early as next year, according to Secretary for Innovation, Technology and Industry Sun Dong.

At a press conference discussing the latest Budget measures on Thursday, Sun highlighted the emergence of a new landscape for AI development, predicting rapid advancements in the coming decades. 

He emphasized the necessity for Hong Kong to bolster its foundational research capabilities through integrated resource management.

The 2025-26 Budget earmarked HK$1 billion to establish the AI R&D Institute, which aims to propel innovative research and industrial applications of AI within the region. 

Sun said that the institute will not only prioritize fundamental research but also promote the application of AI across various sectors, including innovation and technology, finance, healthcare, and government services.

He said the institute's ambition is to lead in creating new business opportunities for industries in Hong Kong.

Regarding the timeline for the institute's operations, Sun hopes to secure funding from the Legislative Council by mid-year, enabling the institute to commence its functions as early as next year.

"This research institute is not being created from scratch. Our Hong Kong Generative AI Research and  Development Center (HKGAI), part of InnoHK, has made significant strides in generative research and development intelligence over the past year and a half,” he said.

Looking ahead, Sun said plans to further integrate the current InnoHK research center with the development of the new institute.

Also, he underscored the importance of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone as a key driver for high-quality development in the Greater Bay Area. 

Sun affirmed the commitment of both the central and SAR governments to this initiative, emphasizing the need for effective coordination between Hong Kong and the cooperation zone while accelerating infrastructure development.

(Cheng Wong)