Photo by Markus Winkler from Unsplash

Generative AI tops investment choices for Hong Kong family offices

Over 75% of family offices in the city plan to invest in Gen AI.

Generative AI (Gen AI) is the most popular investment amongst family offices in Hong Kong, UBS reported.

Over 75% of family offices in Hong Kong look at Gen AI as a likely investment in the next two or three years. By the end of this year, over half of Hong Kong firms are expected to use AI in their operations.

Hong Kong has around 2,700 single-family offices, with over half set up by ultra-high-net-worth individuals.

Meanwhile, the government is implementing over 100 digital government and smart-city initiatives and accelerating the establishment of an AI Supercomputing Centre in Cyberport to meet the demand of institutes and the industry for computing power.

In addition, the government will launch a new integrated fund platform to serve as a communications hub, a business centre, and an information portal targeting retail funds, which will help boost Hong Kong's fintech industry with over 1000 companies and startups.

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