A fund set up by Hong Kong’s government plans to sign a cooperation pact with a local “unicorn” focused on large artificial intelligence models and intelligent manufacturing, according to the city’s Financial Secretary Paul Chan.
The goal of the pact involving the HK$62 billion (US$8 billion) Hong Kong Investment Corp. is to boost research and development expenditure as well as talent training in Hong Kong, according to a Chinese-language blog post by Chan.
He said the pact will also accelerate the digitalization of the regional economy in the Greater Bay Area covering Hong Kong, Guangdong and Macau. The post doesn’t identify the “unicorn,” a term that refers to a startup firm valued at $1 billion or more.
The company’s technology can be used for “intelligent manufacturing,” a sector where AI application is fragmented, Chan said. Deep learning and standardization of large AI models will enable speedy technological adjustments to suit the needs of various industries, he added.
Hong Kong United Times丨香港聯合時報丨HKUT 