HK should prepare for AI slowdown: Algernon Yau
Secretary for Commerce and Economic Development Algernon Yau on Sunday said the development of AI could slow down, and the SAR should keep looking for new opportunities to maintain its status as an international trade centre. His remarks came as Hong Kong’s exports in September surged by nearly 65 percent over a year earlier, marking the fastest monthly year-on-year growth in more than four…
Secretary for Commerce and Economic Development Algernon Yau raised concerns about the potential slowdown in the development of artificial intelligence (AI) on Sunday. He stated that Hong Kong should remain vigilant and continue seeking new opportunities to sustain its role as a global trade hub. Yau's comments emerged as Hong Kong's exports in September grew by nearly 65 percent year-on-year, marking the fastest monthly increase in over four decades.
However, he cautioned that the current surge in AI-related growth could eventually wane. "The global landscape is constantly evolving, and we are subject to external influences," he noted. "The present upward trend is driven by AI developments. But will the AI boom gradually subside?" Yau emphasized that different countries have divergent perspectives on AI advancement, which might lead to a slight slowdown.
To prepare for potential changes, he advised Hong Kong to adapt its strategies based on global trends and further expand the city's trade network. Yau also highlighted the upcoming Asia-Pacific Economic Cooperation (Apec) Economic Leaders Meeting in Shenzhen, which aims to foster regional cooperation and mutual development among economies in the Asia-Pacific region.
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