The Hong Kong government will invest US$383 million (S$515 million) in its Cyberport business park as part of a three-year artificial intelligence (AI) subsidy scheme, Hong Kong’s financial secretary Paul Chan announced in his Budget 2024 speech on Wednesday.
The Cyberport is expediting the establishment of an AI Supercomputing Centre to meet the demand of research institutes and the industry for computing power.
Chan said the first phase of the facility will start operations this year and by early 2026, it is expected to have a computing power of 3,000 petaflops, capable of processing almost 10 billion images per hour.
He added that the investment aims to support local universities, research institutes, and businesses in utilising the new Centre's computing capabilities and attract global AI experts, enterprises, and research projects to Hong Kong.
"The subsidy will also be used to strengthen the cyber security and data protection of the Centre, and launch promotional and educational activities," he added.
The government is also allocating over US$1 billion to subsidise new life and health technology research institutes at eight local universities.
These institutes will collaborate with organisations from mainland China and overseas, promoting research and development in life and health technology.
Hong Kong has seen an increase in the use of artificial intelligence in healthcare industry.
Recently in November 2023, the Hospital Authority, a statutory body managing all the government hospitals and institutes in Hong Kong announced plans to deploy AI to improve the way it prescribes drugs, and fight the spread of two superbugs.
Its chief infection control officer, Raymond Lai said AI will be used to monitor antibiotic prescriptions in public hospitals, and notify doctors if a prescription contradicts patients' medication history.
