Hong Kong AI adoption push: HK$300m for SMEs and cybersecurity

Hong Kong will allocate HK$300 million (US$38.29m) this year to its Digital Transformation Support Pilot Programme, targeting AI adoption and cybersecurity upgrades for eligible SMEs. Financial Secretary Paul Chan announced the funding, saying SMEs can use existing AI and cybersecurity solutions to predict consumer trends, optimize marketing, and automate daily operations. The initiative builds on the DTSPP launched in January 2024, which offers 1:1 matching support of up to HK$50,000 for SMEs in sectors such as food and beverage, retail, tourism, and personal services. The government previously set aside HK$500 million, but now adds a dedicated boost as AI technology reshapes global business. Chan also confirmed the formation of an “AI+ and Industry Development Strategy Committee” and said initial focus areas include life sciences, health, and “embodied intelligence,” plus AI application strategies across transport, cultural and creative industries, and sustainable development. Separately, HK$50 million (US$6.38m) will fund “AI training for all” with about 200 events expected over two years and benefits for around 50,000 people. For the fintech and banking sector, Hong Kong regulators have expanded GenAI Sandbox to “GenAI Sandbox++,” partnering with the HKMA, SFC, IA, MPFA, and Cyberport to test AI while managing risk, anti-fraud, and customer experience—supporting a broader, compliant AI adoption roadmap.