Impact

<p>In the wake of a harrowing week that included a typhoon and black rainstorm, the rescue of a missing student showcased the power of collaboration between humans and machines, particularly in the application of Information and Technology (I&amp;T) in Hong Kong. The Fire Services Department’s (FSD) use of geographic information and artificial intelligence (AI) to expedite search and rescue efforts by two-thirds has sparked discussions about the broader implications for the development of startups and the advancement of AI applications in the region.</p>
<p>The successful search and rescue operation by the FSD shed light on the indispensable role of AI in emergency situations. The innovative use of geographic information and AI algorithms, developed by the startup LifeSparrow Solutions, proved instrumental in narrowing search areas and significantly reducing the time required for visual analysis. This incident underscores the potential for AI to enhance efficiency in critical situations, prompting a broader conversation on its application beyond emergency response.</p>
<h2 class="wp-block-heading" id="supporting-startup-growth">Supporting startup growth</h2>
<p>Hong Kong’s startup ecosystem has witnessed exponential growth in recent years, boasting 3,985 startups and 14,932 employees—an increase of 52% and 56%, respectively, since 2018. Government initiatives, including publicly funded startup funds and a pro-innovation procurement policy, have played a crucial role in fostering this growth. The shift in tender assessment, favoring technical innovation over the lowest bid, has contributed to over 70% of government procurement going to the highest technically rated bidder. While this marks a promising start, there is a call for further expansion of opportunities for local startups.</p>
<h2 class="wp-block-heading" id="creating-synergy-for-smart-city-initiatives">Creating synergy for smart city initiatives</h2>
<p>Beyond search and rescue, various government departments in Hong Kong are leveraging innovative products and services, such as drones and AI, for enhanced efficiency. However, these projects often lack cohesion, highlighting the need for an overarching policy on startups and innovation. The Energizing Kowloon East project, initiated to showcase smart city solutions, serves as a potential blueprint for Hong Kong’s development. There is a call for proactive government intervention to review and implement successful projects on a larger scale, providing more opportunities for startups and facilitating the export of smart city solutions.</p>
<h2 class="wp-block-heading" id="promoting-ai-applications">Promoting AI applications</h2>
<p>A recent AI Economic Impact Index ranked Hong Kong 10th globally, emphasizing its strength in the “<a href="https://www.cryptopolitan.com/how-does-ai-adoption-software-testing/" data-type="post" data-id="419069" rel="noopener noreferrer nofollow">diffusion and adaptation” of AI</a>. The successful use of AI in the FSD rescue mission serves as a prime example. However, the question arises: Can Hong Kong further strengthen its position by encouraging more organizations, particularly startups, to actively participate in technology implementation, transformation, and application? The potential is there, and strategic measures can propel Hong Kong into a prominent position on the global stage.</p>
<p>As Hong Kong continues to navigate the intersection of startups and AI applications, the recent success of LifeSparrow Solutions in assisting the FSD highlights the transformative potential of technology. The government’s role in fostering innovation, coupled with cohesive policies for startups and smart city initiatives, can position Hong Kong as a global leader in AI applications. The question remains: How can Hong Kong continue to nurture and support its burgeoning startup ecosystem while maximizing the potential of AI for the benefit of society?</p>

Hong Kong’s Emergence as a Hub for Startups and AI Applications

Tabla de contenidos

Cryptopolitan_News

Otros artículos publicados el 21 dic 2023

🚀In 2024, These Will Be the Top 5 Altcoins For A Bull Run🚀

Controversial Deepfake Scam Video of Ripple CEO Sparks Outcry

Bitcoin Price To Top $50,000 if SEC Approves Spot ETFs: Report

Web3 Growth Marketing Leader Addressable Completes $13.5M Raise Led by BITKRAFT

Argentina’s Foreign Affairs Minister Says “Contracts Can Be Settled in Bitcoin,” Additional Crypt...

Max Keiser Warns of Hidden Dangers in Upcoming Bitcoin ETFs

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!