Hong Kong Artificial Intelligence Market Analysis, Size, and Forecast by Type, Deployment Model, Industry, and Organization Size: 2019-2033

Hong Kong Artificial Intelligence Market Outlook

In a landmark shift aligning with China’s national digital blueprint, Hong Kong is emerging as a strategic nucleus for artificial intelligence (AI) development. The Hong Kong AI market is projected to exceed $23 billion by 2033, as per insights from David Gomes, Manager – IT. This accelerated expansion is propelled by robust public investment, strong enterprise demand, and a fast-maturing research ecosystem. The recent allocation of HK$1 billion (approx. $129 million USD) to establish the Hong Kong Artificial Intelligence Research and Development Institute exemplifies the region’s commitment to cultivating a self-sustaining AI innovation environment. The government's multi-tiered approach includes a $387 million subsidy scheme, designed to fuel local institutions and companies engaged in advanced AI research, industrial applications, and commercialization.

A notable concentration of AI-driven transformation is taking place in healthcare, where the Hong Kong University of Science and Technology has developed MedDr, a sophisticated AI tool that enables pre-consultation diagnostics and medical report generation. Complementing this is the MOME (Mixture of Modality Experts) system, capable of diagnosing breast cancer from MRI scans, dramatically reducing the need for invasive biopsies. These breakthroughs illustrate how AI is not only improving efficiency but redefining patient care standards across Asia. In the financial sector, the launch of the Deloitte AI Institute (Hong Kong) in 2023 marked a milestone in the adoption of AI for document processing and real-time data analysis, especially within regulatory and compliance functions. Meanwhile, Tata Consultancy Services is capitalizing on Hong Kong’s growing AI appetite by offering secure, enterprise-grade solutions amid regional apprehensions over AI models like DeepSeek and their data transparency issues.

Education is another frontier being revolutionized through AI integration. Lenovo’s deployment of its “AI Now” large language model at Chong Gene Hang College allows students to personalize learning through AI-generated summaries, Q&A analyses, and exam-based adaptive exercises. This not only enhances academic engagement but also reduces the administrative burden on teachers, enabling them to focus on pedagogy. The University of Hong Kong Business School is further mainstreaming AI literacy by embedding it into core undergraduate modules, reflecting a long-term strategy to build a future-ready workforce.

Culturally, AI has spurred dynamic debates among creatives. Prominent local artists such as Tommychief Oil and Kane Dalangin Harold argue that while AI can replicate visual elements, it still falls short in capturing deep cultural nuance and emotional storytelling—reinforcing that human creativity remains irreplaceable in design and branding. Their perspectives highlight a uniquely Hong Kong response to the global AI art wave, wherein authenticity, identity, and heritage continue to matter.

Hong Kong’s government is also laying the groundwork for sustained AI adoption through supercomputing infrastructure and cross-sector policy support. Cyberport’s AI Supercomputing Centre is expected to hit 3,000 petaFLOPS in 2025, supporting data-intensive applications across genomics, logistics, and fintech. The Hong Kong Exchanges and Clearing Limited, with backing from the Securities & Futures Commission, is set to launch a “technology enterprises channel” to facilitate fundraising for AI and biotech firms—providing crucial liquidity to emerging players. The rollout of the $10 billion Innovation & Technology (I&T) Industry-Oriented Fund and the support for over 100 smart production lines under the New Industrialisation Funding Scheme are further evidence of Hong Kong’s strategic shift toward deep tech industrialization.

Furthermore, executive commentary from Financial Secretary Paul Chan reinforces this trajectory. In his 2025–26 Budget Speech, he emphasized that “the AI ecosystem must integrate research, infrastructure, talent, and commercialization in a cohesive framework.” His remarks underscore how coordinated policy, private capital, and academia are converging to transform Hong Kong into an AI powerhouse not just regionally, but globally.

To protect this momentum, experts have urged the Hong Kong government to accelerate AI regulation development, balancing innovation with safeguards on ethics, bias, and transparency. As AI increasingly becomes embedded in critical sectors, responsible use frameworks will be essential for trust-building and long-term viability.

Authors: David Gomes (Manager – IT)

*Research Methodology: This report is based on DataCube’s proprietary 3-stage forecasting model, combining primary research, secondary data triangulation, and expert validation. [Learn more]

Hong Kong Artificial Intelligence Market Scope