Edward Yau: Reserving 1 billion Hong Kong dollars to establish the Hong Kong Artificial Intelligence R&D Institute to guide and support the innovation and development of artificial intelligence and its industrial applications.

On March 31, John Lee Ka-chiu, the Chief Executive of the Hong Kong Special Administrative Region, expressed in a video message at the founding ceremony of the Guangdong-Hong Kong-Macao Greater Bay Area Entrepreneur Alliance Artificial Intelligence Committee that in the latest Budget, 1 billion Hong Kong dollars have been earmarked to establish the Hong Kong Artificial Intelligence Research Institute, aiming to guide and support the innovation, research and development, and industrial application of artificial intelligence in Hong Kong, promote the upstream research and development, midstream and downstream transformation of results, and scenario applications. John Lee Ka-chiu pointed out that the Hong Kong SAR Government attaches importance to the development of artificial intelligence. In the Policy Address, a series of measures have been proposed to increase investment and attract market funds, and revolutionize the government's investment in innovation and technology industries. Hong Kong will establish a HK$10 billion "Innovation and Technology Industry Development Fund" to strengthen the guidance of market funds' investment in strategic emerging and future industries, and optimize the "Innovation and Technology Venture Fund" to support the construction of the startup ecosystem. The Hong Kong SAR Government has also launched a HK$3 billion "Artificial Intelligence Funding Scheme" to support local universities, research institutions, and companies in utilizing the computing power of the "Supercomputer Center" at Cyberport (Artificial Intelligence Supercomputer Center) to usher in a new chapter in the development of artificial intelligence.