Hong Kong can offer AI governance solutions for major economies: Paul Chan

Hong Kong's unique strengths, such as its common law system and globally connected standards and services, make it well-suited to provide trustworthy solutions in artificial intelligence (AI) governance for major economies, according to the city's finance chief, Financial Secretary Paul Chan Mo-po. In his weekly blog, Chan argued that Hong Kong can offer "trusted solutions in [AI] model training, cross-border data flows, privacy protection, and dispute resolution" by leveraging its advantages in a common law system, skilled legal professionals, internationally recognized standards, professional services, and financial support.

The city was discussing AI governance, data compliance, risk management, and model training as major economies addressed these topics. Chan also highlighted the government's plan to address AI-related crimes, manage AI agents, and assess AI ethical risks, while predicting a narrowing manpower shortage to 130,000 by 2028 due to economic transformation, AI adoption, and talent and labor importation measures.

However, critical industries like innovation, aviation, construction, city operations, and healthcare will still face a manpower shortage. Chan noted that Hong Kong would need to develop talent with an understanding of the AI industry and highlighted the government's efforts to promote AI training for all. Chan began a two-day visit to Qatar on Sunday to attend the Asian Infrastructure Investment Bank's annual meeting, where he planned to share Hong Kong's experience in infrastructure development, regional connectivity, and sustainable development, as well as introduce the city's new opportunities and advantages.