342 views
Photo by Igor Omilaev from Unsplash

Five in 10 AI companies in HK mull local and int'l expansion

Of those seeking expansion, 11% want to focus their business on the Mainland.

Over five in 10 (55%) AI companies in Hong Kong plan to expand their businesses into international and local markets, according to the Hong Kong Productivity Council's (HKPC) Hong Kong AI Industry Development Study.

Of those seeking expansion, 14% and 11% want to focus their businesses in Hong Kong and the Mainland, respectively.

Hong Kong is the main source of income for local AI enterprises (63%), followed by the Mainland (19%), and overseas (15%). According to the survey, 31% of AI enterprises claim to be profitable.

Meanwhile, the study also found that  48% of companies are solely investing in developing AI for one industry, whilst 16% target two industries and 15% target three industries.

Target industries include telecommunications and IT (29%), medical industries (24%), education/training (23%), manufacturing (22%), and government organisations (21%).
 

Follow the link for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!