Keynote speech by PSITI at Deloitte Digital Day 2026 (English only) (with photo)
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Edward (Southern Region Managing Partner of Deloitte China, Mr Edward Au), Allen (Hong Kong Businesses Managing Partner of Deloitte China, Mr Allen Wong), distinguished guests, ladies and gentlemen,
Good afternoon. It is my great pleasure to join you at Deloitte Digital Day 2026 and to share with you the momentum of innovation and technology (I&T) development in Hong Kong. This year's theme, "The Hybrid Workforce: Human, Digital, and Physical AI", is highly relevant to our priorities. It highlights how human ingenuity, digital intelligence and intelligent machines can work together to transform industries, enhance productivity and create new opportunities.
I&T has always been a core element of our country's overall development strategy. The National 15th Five-Year Plan has reaffirmed Hong Kong's important positioning as an international I&T centre. To align with the National 15th Five-Year Plan, the Government is now formulating the First Five-Year Plan for Economic and Social Development of the HKSAR (Hong Kong Special Administrative Region), aiming to publish the formal document in September.
We will focus on four areas to elevate Hong Kong's I&T development to new heights. The first key focus is to accelerate and dovetail with the country's strategic planning of technologies. Hong Kong enjoys distinctive advantages of having our nation's strong support and being closely connected to the world under "one country, two systems". We boast five of the world's top 100 universities with outstanding research talent, vibrant I&T parks and various top-tier research and development (R&D) institutions. These advantages provide strong impetus for nurturing and pooling world-class talent in Hong Kong, laying a solid foundation for Hong Kong to better serve and integrate into the country's overall development.
The second key focus is to advance the development layout of "three major I&T parks and five key research and development institutions", facilitating the co-ordinated development of the upstream, midstream and downstream sectors. The three major I&T parks are developed under a "north, central, south" framework. Among them, Cyberport, which is in the south, focuses on artificial intelligence (AI), data science, blockchain, etc. The Hong Kong Science Park, located in the centre, serves as a mature I&T hub, promoting the integrated development of industries, academia, and research sectors across various technology fields. To the north lies the Hong Kong Park in the Loop, which opened at the end of last year, as well as the San Tin Technopole, which is currently undergoing accelerated development.
The San Tin Technopole will complement the Loop by providing larger-scale industrial land for prototyping, pilot production and mass production. It will support strategic industries including life and health technology, AI and robotics, microelectronics and smart devices, new materials, new energy and green technology. Together, the Loop and San Tin Technopole will support the development of a new "South-North dual engine" for Hong Kong - combining our traditional strengths in finance and professional services with new strengths in innovation, technology and advanced industries.
Apart from the three major I&T parks mentioned just now, the Government has also established five key R&D institutions. In the field of AI, we have established the Hong Kong Artificial Intelligence Research and Development Institute (AIRDI) this year. AIRDI will officially commence operation in the second half of this year with the aim of driving breakthroughs in frontier AI technologies and enhancing Hong Kong's original innovation capabilities and scientific research output in the field of AI. We are also preparing to establish the Life and Health Technology Research Institute, with its headquarters in the Hong Kong Park in the Loop. It will focus on the integration of artificial intelligence with life sciences and medicine.
The third key focus is to build a high-level modernised industrial system for Hong Kong, with a view to strengthening Hong Kong's innovation-driven new real economy and transforming I&T results. In this regard, the Government has introduced various new measures. In the midstream, the Government launched the $10 billion Research, Academic and Industry Sectors One-plus (RAISe+) Scheme in 2023 to provide matching funding to university research teams with the potential to become successful start-ups for transforming and commercialising their R&D outcomes. In the first three rounds of applications, 73 projects have been supported by the Scheme, with total Government funding commitment amounting to over $3 billion. In the downstream, we have all along attached importance to promoting new industrialisation, assisting the traditional manufacturing sector to upgrade and transform, and foster start-up development. The $10 billion New Industrialisation Acceleration Scheme provides matching funding for enterprises in strategic sectors, including life and health technology, AI and data science, advanced manufacturing and new energy technologies, to establish smart production facilities in Hong Kong.
We also plan to launch the $10 billion Innovation and Technology Industry-Oriented Fund within this year, with the Government actively guiding market capital to invest in I&T industries and support the development of emerging and future industries of strategic importance, targeting a total fund size of at least $40 billion. Eligible General Partner applicants are currently undertaking fund-raising exercises with a view to commencing the operation of the fund within this year.
The fourth priority is to promote the holistic development of AI and advance the "AI+" initiative. Computing power is key to driving AI development. Hong Kong's overall computing power has now reached 5 000 PFLOPS (peta-floating point operations per second), with Cyberport's AI Supercomputing Centre contributing 3 000 PFLOPS. The Sandy Ridge Data Facility Cluster site, covering a total area of about 11 hectares, was awarded in early March 2026. The site will be developed into an advanced data facility cluster for data centres and related industries. By 2032, it is expected to provide 180 000 PFLOPS of computing power, which is equivalent to 36 times Hong Kong's current capacity.
AI can bring us new opportunities, but it can also pose challenges. Infrastructure is only part of the equation. AI must also be widely understood and responsibly applied across society. The key lies in promoting widespread understanding and application of AI across all levels of society. Therefore, the 2026–27 Budget proposes a series of measures to advance "AI for All" training. Among these, the Government has launched the "AI for All" Inclusive Programme, under which the Hong Kong Science and Technology Parks Corporation, Cyberport, and the Hong Kong Productivity Council would join forces with technology companies and tertiary institutions to organise diverse courses, competitions, and other activities tailored to the needs of different target groups. These efforts aim to enhance awareness and AI skills among students, youth, the general public, professionals, and SME owners, while cultivating a culture of responsible AI use.
As we look ahead, Hong Kong will continue to attract and support I&T enterprises, facilitate the upgrading of traditional industries and promote the development of new industries and start-ups. The Northern Metropolis and the broader Greater Bay Area will be particularly important in this process. They will provide space, infrastructure, industrial capacity and application scenarios for strategic industries. The future workforce will be hybrid. Human workers will contribute creativity, judgement, empathy and responsibility. Digital AI will provide speed, scale and insight. Physical AI will extend the capabilities of machines to perceive, reason and act in the real world. Most importantly, innovation must remain people-centred, industry-relevant and socially beneficial.
I wish Deloitte Digital Day 2026 every success. I look forward to the valuable exchanges and partnerships that will emerge from today's event. Thank you.
Ends/Tuesday, August 25, 2026
Issued at HKT 16:00
Issued at HKT 16:00
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