Finance chief warns frontier tech will challenge the job market, urging faster action to equip young people with AI skills and workplace opportunities
Hong Kong’s employees retraining board will partner with major tech firms to launch an artificial intelligence (AI) training programme for the working population in November, the city’s finance chief has said.
In his Sunday blog, Financial Secretary Paul Chan Mo-po said the HK$50 million (US$6.4 million) “AI for All” inclusive programme, announced in the February budget, would feature more than 200 activities and was expected to benefit 50,000 people within two years.
“The development and application of frontier technology will pose challenges to the job market. We must speed up our response, helping young people master the skills and giving them opportunities to apply them in the workplace,” he said.
“Hong Kong is home to many small and medium-sized enterprises whose agility, adaptability, and innovative spirit have seen them through past tech shifts and economic cycles. As we navigate this current paradigm shift, we will fully support them in adapting, preparing, and continuing to grow.”
Chan cited a survey finding that almost 70 per cent of Hong Kong residents were proficient in using AI, while about 20 per cent were highly proficient and leveraged AI agents to automate daily tasks. He said the report further estimated that if Hong Kong’s small and medium-sized enterprises (SMEs) could catch up to large corporations in AI adoption by 2035, it could unlock up to HK$65 billion in economic value for the city.