Hong Kong Cyberport is a government-supported business hub focused on Web3, blockchain, and artificial intelligence, increasing investments in emerging technologies to position Hong Kong as a global tech leader.

On February 27, Cyberport partnered with international academic institutions in artificial intelligence to hold the "AI Safety, Trust, and Responsibility" forum, discussing governance, safety, and responsible innovation initiatives in AI.

The Cyberport hub is home to over 270 blockchain technology-related companies and more than 350 startups focused on AI and big data research and development.

Hong Kong Cyberport hosted an AI summit. Source: Cyberport

The day before, on February 26, the Hong Kong government's budget proposal for the fiscal year 2025-26 particularly focused on emerging technologies, aiming to "seize the key opportunities brought by technological reform and AI development."

Hong Kong Special Administrative Region Financial Secretary Paul Chan announced in the budget speech that the government has allocated HKD 1 billion (approximately USD 125.5 million) to establish the Hong Kong AI Research Institute.

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The institute is dedicated to "promoting upstream research and development, transforming downstream research results, and expanding application scenarios."

To promote Web3, blockchain, and AI innovation, the Cyberport AI Supercomputing Center (AISC) was launched on December 9, 2024, with computing power increasing to 3,000 petaFLOPS, capable of processing 30 quadrillion floating-point operations per second.

In addition, one of the co-organizers of the AI forum, the World Digital Technology Academy (WDTA), also announced the establishment of the "WDTA Asia-Pacific Academy (in preparation)" at Cyberport.

WDTA Executive Chairman Yale Li emphasized the three core initiatives of the institute, including building a "security-native" technology framework, establishing a "human-centered" value system, and committing to "responsible innovation."

Cyberport has signed memorandums of understanding (MoUs) with several universities and institutions to help students gain internship and employment opportunities. Additionally, the Hong Kong government has allocated HKD 3 billion (approximately USD 385.6 million) to Cyberport to launch a three-year AI subsidy program to support innovation.

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