Only 27% of Hong Kong firms spend over $5.8m on AI

Hong Kong companies identified edge computing as their top IT priority.

Only 42% of Hong Kong firms are currently investing in artificial intelligence, significantly below the global average of 60%, according to Colt Technology Services’ latest IT Priorities Research. 

This puts Hong Kong behind leading markets such as Japan (90%) and the US (84%) in AI adoption. 

Amongst Hong Kong firms that have started investing in AI, $2m (US$250,000) or more annually, with 27% allocating between $5.8m (US$750,000) and $7.7m (US$999,999). 

However, none reported spending above $7.7m (US$1m)—a level seen in 27% of Singapore firms, 18% in the UK, and 14% in the US.

Spending priorities amongst Hong Kong AI investors include automation of routine tasks (36%), generative AI for content creation (36%), workforce management (35%), cybersecurity (32%), and strategic decision-making (30%). 

Compared globally, firms in other regions are slightly more focused on innovation and product development. 

For the next 12 months, Hong Kong companies identified edge computing (29%) as their top IT priority, followed by AI and machine learning integration (27%), and improving security and resilience (26%). 

In contrast, other markets are focusing on network flexibility, revenue growth, sustainability, and remote work capabilities. 

The survey also noted that 19% of Hong Kong firms are prioritising IT strategies to support mergers and acquisitions, and 27% are focused on integrating other markets into their network. 

Colt surveyed 1,236 IT decision-makers from companies with at least $769.2m (US$100m) in annual revenue across 13 global markets.