Hong Kong Electronics Fair: I&T to lead post-pandemic economic growth

Hong Kong Electronics Fair: I&T to lead post-pandemic economic growth




HONG KONG, Oct 29, 2021 – (ACN Newswire) – With the post-pandemic brand-new regular settling throughout the world, business big and little are bracing for the obstacles to come. At the Symposium on Innovation and Technology, the Hong Kong Trade Development Council (HKTDC) and the Hong Kong Electronics & Technologies Association (HKETA) welcomed market stars from worldwide to share insights on the style “Revive and Thrive”. The speakers clarified how Innovation and Technology (I&T) can assist business gain back development momentum and what I&T patterns they anticipate to see worldwide and in Hong Kong.


This year’s Symposium on Innovation & Technology, themed “Revive and Thrive”, ran as part of the Hong Kong Electronics Fair (Autumn Edition).


I&T to lead the world

Victor Choi, Chairman of the HKETA, kept in mind in his welcome remarks that the Symposium on Innovation and Technology has actually long been a flagship occasion of the yearly Hong Kong Electronics Fair (Autumn Edition). He stated: “This year, the occasion is being kept in both physical and online formats for the very first time, allowing speakers and audiences from all over the world to get rid of physical constraints to link and check out the function of I&T in the post-pandemic period.”

In his opening remarks, Alfred Sit, Secretary for Innovation and Technology of the Hong Kong Special Administrative Region (HKSAR), stated that expert system (AI) and huge information are essential innovation locations underpinning clever city advancement. Their applications contribute to the shipment of quality data-driven civil services. As the International ICT Expo resumes as an in-person exhibit for the very first time because COVID-19, the Office of the Government Chief Information Officer (OGCIO) is utilizing the occasion to assist various sectors acquire a much better understanding of the HKSAR Government’s efforts in promoting wise city advancement and to function as a bridge to increase cooperation in between the federal government and market to check out informative concepts for wise city advancement in Hong Kong.

Metaverse will end up being the next huge thing

Marcos Chow, Partner & Head of Technology Enablement at KPMG China, shared the findings of a KPMG report on the outlook amongst CEOs. He stated that when KPMG surveyed CEOs in 2020, the participants called skill, supply chain and go back to territorialism as the 3 biggest dangers to organization development. When they performed the study once again in 2021, the company chiefs ranked cybersecurity, environmental/climate modification threat and supply chain as the biggest dangers, showing their increased issue relating to innovation’s effect on organization. The report likewise discovered that the CEOs chosen utilizing mergers and acquisitions to rapidly get innovation abilities and capitalise on development chances.

Mr Chow observed that business worldwide are increasing their ESG (ecological, social and governance) financial investments which federal governments are starting to enforce more stringent guidelines associated with sustainability. For this factor, international business must take advantage of I&T to accomplish sustainability objectives such as carbon neutrality. This makes ESG an area where unicorns will discover adequate development capacity.

As for upcoming patterns, Mr Chow anticipates that international tech business will trend towards establishing metaverses – hybrid virtual-physical truth areas that can produce higher application chances for I&T services. As an example, he stated that Token.com, an innovation business, just recently obtained a 50%stake in a virtual realty financial investment trust which the deal was carried out with cryptocurrencies. At the current Digital Art Fair in Hong Kong, art work were auctioned utilizing non-fungible tokens (NFTs) as the currency. Mr Chow included that as more metaverses are established, the threat of cybersecurity will likewise increase, which in turn will trigger federal governments to increase their oversight.

FinTech’s requirement for combination

Lucas Hui, Chief Technology Officer of the Hong Kong Applied Science and Technology Research Institute (ASTRI), stated that the majority of FinTechs nowadays integrate several application innovations, consisting of AI, blockchain, cybersecurity and information analytics. In combination with the occurrence of the high-speed, high-efficiency and reputable connection of 5G, or perhaps 6G, this will enhance the advancement of incorporated blockchains.

He described: “Many FinTech organizations now depend upon AI, which raises information security dangers and needs using authentication innovations and information analytics to reduce. As deal volumes increase, so will the work. All of this can be carried out successfully on incorporated blockchains.”

Using e-wallets as an example, Hui stated that, while 5G’s high-speed information transfer can help with high-volume online deals, validating these deals will need the collective usage of such innovations as AI, huge information analytics and artificial intelligence. To this end, he predicts that future FinTechs will depend on incorporated blockchains to carry out these operations.

The Hong Kong Trade Development Council (HKTDC) has actually brought its 7 fall trade fairs together into a single “physical online” platform in2021 Including more than 1,700 exhibitors from 18 nations and areas, the hybrid fairs provide an extensive series of advanced tech items, services, medical and ecological innovations, services and intelligence. The four-day physical fairs are held from 27 to 30 October at the Hong Kong Convention and Exhibition Centre (HKCEC), while the online fairs run up until 6 November.

The 7 concurrent fairs consist of the HKTDC Hong Kong Electronics Fair (Autumn Edition), HKTDC International ICT Expo, HKTDC Hong Kong International Medical and Healthcare Fair, HKTDC Hong Kong International Lighting Fair (Autumn Edition), HKTDC Hong Kong International Outdoor and Tech Light Expo, electronicAsia, which is collectively arranged by the HKTDC and MMI Asia Pte Ltd, and Eco Expo Asia, which is collectively arranged by the HKTDC and Messe Frankfurt (HK) Ltd.

Websites of the 7 fall trade fairs:

– Hong Kong Electronics Fair (Autumn Edition): https://hkelectronicsfairae.hktdc.com

– electronicAsia: http://www.electronicasia.com

– International ICT Expo: https://ictexpo.hktdc.com

– Hong Kong International Lighting Fair (Autumn Edition): https://hklightingfairae.hktdc.com

– Hong Kong International Outdoor and Tech Light Expo: https://hkotlexpo.hktdc.com

– Hong Kong International Medical and Healthcare Fair: https://hkmedicalfair.hktdc.com

– Eco Expo Asia: www.ecoexpoasia.com

Photo download: https://bit.ly/3GtTWcp

HKTDC Media Room: http://mediaroom.hktdc.com/en

About HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body developed in 1966 to promote, help and establish Hong Kong’s trade. With 50 workplaces internationally, consisting of 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way worldwide financial investment and company center. The HKTDC arranges global exhibits, conferences and company objectives to develop organization chances for business, especially little and medium-sized business (SMEs), in the mainland and worldwide markets. The HKTDC likewise offers updated market insights and item details through research study reports and digital news channels. For additional information, please see: www.hktdc.com/aboutus Follow us on Twitter @hktdc and LinkedIn

Media queries:

HKTDC’s Communications & Public Affairs Department

Clayton Lauw, Tel: 8522584 4472, Email: clayton.y.lauw@hktdc.org

Janet Chan, Tel: 8522584 4369, Email: janet.ch.chan@hktdc.org

Agnes Wat, Tel: 8522584 4554, Email: agnes.ky.wat@hktdc.org


Topic: Trade Show or Conference



Source: HKTDC


Sectors: Electronics


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