AI Takes Centre Stage at Lenovo Tech World Hong Kong | Technology

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  • Survey shows AI poised to take off, with 95% of HK CIOs saying AI budgets met or exceeded.
  • Challenges ahead with speed of scaling, demonstrating ROI and having the right talent.

HONG KONG, March 7, 2024 – At Lenovo’s inaugural Tech World Hong Kong event today, Lenovo gathered international technology leaders and innovators to showcase its deep commitment to driving AI transformation across industries in Hong Kong and the Greater Bay Area (GBA) and its vision of “AI for All.”

At the event, Lenovo shared some findings of Hong Kong corporate CIOs[i] based on a global survey of international leaders focusing on the opportunities and challenges of artificial intelligence (AI). As global interest in AI is peaking, the survey results indicate how important AI has become for enterprises in Hong Kong.

95% of Hong Kong CIOs surveyed said that their requests for budget for AI are being met or exceeded, with a full 44% saying they have more than what is needed. Generative AI is the catalyst, with 56% of respondents saying it is providing the most business value today, compared with traditional or analytical AI (28%).

However, the survey also revealed several challenges to be met if Hong Kong is to take full advantage of AI. Only 55% of CIOs said they are adequately prepared to scale AI, with security, speed to market, and having the right talent among the key barriers. Almost nine out of 10 HK CIOs believe human capital will be key to scaling AI.

While 88% of respondents agreed that as technology becomes more powerful, organisations have a greater responsibility to inform and explain how they are using it to external stakeholders, less than one-quarter of CIOs believe their corporate policy on operational/ethical IT use is AI-ready. Meanwhile, at the corporate leadership level, only 35% of CIOs said the leadership of their organisations have a strong understanding of AI and AI-related technologies.

“At a time of huge potential for AI to supercharge key Hong Kong knowledge-based business sectors, it’s clear that our CIOs and IT departments have a lot of work still to do to deliver measurable outcomes of AI for their organisations and ensure that AI applications are responsible, secure, and compliant with internal business practices and external regulations. With the right talent being integral, Lenovo has partnered with various educational organisations in Hong Kong, ranging from universities to vocational institutions, to develop a wide spectrum of talent needed for companies to innovate and scale AI quickly,” said Ken Wong, President of Lenovo’s Solutions and Services Group.

In addition to revealing Hong Kong’s…

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