- Survey shows AI poised to take off, with 95% of HK CIOs saying AI budgets met or exceeded
- Challenges ahead with speed of scaling, demonstrating ROI and having the right talent
HONG KONG SAR – Media OutReach Newswire – 7 March 2024 – At Lenovo’s inaugural Tech World Hong Kong event today, Lenovo gathered international technology leaders and innovators to showcase its deep commitment to driving AI transformation across industries in Hong Kong and the Greater Bay Area (GBA) and its vision of “AI for All.”
Mr Ken Wong, Global President, Lenovo Solutions and Services Group
At the event, Lenovo shared some findings of Hong Kong corporate CIOsi based on a global survey of international leaders focusing on the opportunities and challenges of artificial intelligence (AI). As global interest in AI is peaking, the survey results indicate how important AI has become for enterprises in Hong Kong.
95% of Hong Kong CIOs surveyed said that their requests for budget for AI are being met or exceeded, with a full 44% saying they have more than what is needed. Generative AI is the catalyst, with 56% of respondents saying it is providing the most business value today, compared with traditional or analytical AI (28%).
However, the survey also revealed several challenges to be met if Hong Kong is to take full advantage of AI. Only 55% of CIOs said they are adequately prepared to scale AI, with security, speed to market, and having the right talent among the key barriers. Almost nine out of 10 HK CIOs believe human capital will be key to scaling AI.
While 88% of respondents agreed that as technology becomes more powerful, organisations have a greater responsibility to inform and explain how they are using it to external stakeholders, less than one-quarter of CIOs believe their corporate policy on operational/ethical IT use is AI-ready. Meanwhile, at the corporate leadership level, only 35% of CIOs said the leadership of their organisations has a strong understanding of AI and AI-related technologies.
“At a time of huge potential for AI to supercharge key Hong Kong knowledge-based business sectors, it’s clear that our CIOs and IT departments have a lot of work still to do to deliver measurable outcomes of AI for their organisations and ensure that AI applications are responsible, secure, and compliant with internal business practices and external regulations. With the right talent being integral, Lenovo has partnered with various educational organisations in Hong Kong, ranging from universities to vocational institutions, to develop a wide spectrum of talent needed for companies to innovate and scale AI quickly,” said Ken Wong, President of Lenovo’s Solutions and Services Group.
In addition to revealing Hong Kong’s current AI opportunity, Tech World also outlined Lenovo’s vision for a future where AI technology is accessible and beneficial for everyone. Highlighting initiatives like the partnership with local NGO, Bridge AI, and Formula 1®, Wong emphasized the company’s focus on ethical AI use and meaningful innovation. Through live demonstrations and discussions at the event, attendees witnessed the power of Lenovo’s AI-driven solutions tailored to meet the diverse needs of individuals and enterprises.
Lenovo’s strategic collaborations with local institutions and contributions toward making Hong Kong a leading smart city and technology hub were also spotlighted. Lenovo’s AI Professional Services Practice is helping customers accelerate AI implementation, from concept to results, and enables data management for high-performance workloads to be accessed through a consumption-based model. Additionally, the Lenovo AI Innovators Program helps organisations gain access to enterprise AI by partnering with more than 50 of the industry’s leading software providers.
The company also demonstrated several new AI-powered solutions that meet Hong Kong enterprise demand to deploy responsible AI quickly and cost-effectively. Care-of-One, for example, harnesses AI to improve employee experience and productivity. Lenovo Intelligent Sustainability Solutions Advisor uses AI to enable customers to see and plan the complex environmental impact of IT decisions, while Cyber Resiliency as a Service combines Lenovo’s managed services capabilities with Microsoft’s AI tech stack to improve Hong Kong businesses’ IT security.
“Lenovo’s vision for an AI-powered future is clear – a future where technology is not only about smarter devices but also about creating a more inclusive, sustainable, and intelligent world for all,” said Ken Wong. “With our ‘AI for All’ vision coming to life, Lenovo is not just participating in the AI revolution; it is leading it, promising a transformative impact on how Hong Kong and the world live, work and interact.”
For more details on Tech World Hong Kong 2024 and to explore Lenovo’s AI initiatives further, visit https://www.lenovo.com/hk/en/events/techworld
i Lenovo surveyed 750 CIOs from 10 global markets in February 2024. The Hong Kong sample included 75 Hong Kong Chief Information Officers, 65% of whom work for organisations with more than US$100 million in annual revenues. Full survey results, including comparisons between CIOs in Hong Kong and other markets, will be published in April 2024.
Hashtag: #Lenovo
The issuer is solely responsible for the content of this announcement.
About Lenovo
Lenovo is a US$62 billion revenue global technology powerhouse, ranked #217 in the Fortune Global 500, employing 77,000 people around the world, and serving millions of customers every day in 180 markets. Focused on a bold vision to deliver Smarter Technology for All, Lenovo has built on its success as the world’s largest PC company by further expanding into growth areas that fuel the advancement of ‘New IT’ technologies (client, edge, cloud, network, and intelligence) including server, storage, mobile, software, solutions, and services. This transformation together with Lenovo’s world-changing innovation is building a more inclusive, trustworthy, and smarter future for everyone, everywhere. Lenovo is listed on the Hong Kong stock exchange under Lenovo Group Limited (HKSE: 992)(ADR: LNVGY). To find out more visit 
https://www.lenovo.com, and read about the latest news via our StoryHub.
Services
STAKEHOLDER ENGAGEMENT
Stakeholder mapping, analysis, engagement and communication needs to be detailed to avoid business losses or even worse, a crisis. How can you do this effectively to prevent failure? ...
BUSINESS INTELLIGENCE
Data-driven business decisions have never been as crucial, especially in this era. MGBF leverages off, technology, experience and market presence to aid businesses in making accurate decisions. ...
GOVERNMENT RELATIONS
MGBF provides comprehensive strategic advice and results-focused solutions to solve clients' problems in business-government relations so they can focus on their core business. ...
BUSINESS & BROADER MARKET ACCESS
A critical business challenge is meeting the right decision-makers and potential buyers through the best channel and platform. How will you improve your business competency? ...
Upcoming Events
‘A WORKING LUNCH WITH NORDIN’: NATIONWIDE TOUR WITH TOYOTA
MGBF founding chairman Nordin Abdullah and UMW Toyota president Datuk Ravindran K. will delve into the convergence of automotive innovation and environmental sustainability in Penang, Sarawak, Johor and Pahang.
MGBF Roundtable: Digitalisation of the Food and Beverage Industry
Hosted by menumiz™ – an end-to-end restaurant management system – this roundtable will feature a case study presentation and a panel session to discuss the latest digital trends, challenges, and opportunities within the food and beverage sector.
THE SOUTH CHINA SEA: A THREAT OF DISRUPTION FOR BUSINESS?
In this episode of 'A Working Lunch with Nordin', MGBF's founding chairman, Nordin Abdullah, will host this discussion focusing on the biggest threats and opportunities for businesses as we look to manage change in the South China Sea.
FOOD SECURITY IN THE BREACH: INDUSTRIALISATION AND WEAPONISATION
This MGBF Roundtable will focus on regional food security issues and trends in the regional supply chain, and trade regulations and policies, including a new geopolitical tool i.e., weaponisation of supply chains.
MGBF In The News
Planet QEOS, KIS BlOCNG San Bhd, and the Sarawak Land Consolidation and Rehabilitation Authority (SALCRA) have officially signed a tripartite memorandum of understanding (MoU) to establish a collaborative framework aimed at producing bio-hydrogen via the Steam Biomethane Reforming (SBMR) Process. The MoU was signed by Planet QEOS executive chairman Dino […]
Planet QEOS and China Machinery Engineering Corporation (CMEC) are interested in investing RM10 billion to co-develop advanced Megawatt peak (MWp) agrovoltaic in Baram, to further boost Sarawak’s green energy initiative and food security. Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg was briefed on Friday by both the […]
Last week SPM results came out, 373,974 aspirants who have been waiting patiently over the last few months would now know their fate. Some 10,109 have received all A’s, the golden standard of academic success and the ticket to those looking to study the “more advanced” subjects in university. Proudly, […]
The classic knee-jerk reaction is to say, fire the coach, change the leadership of associations, and reduce the funding till they start performing better. This kind of negative reinforcement may work for kindergarten children, but we are dealing with high-performance adults – individuals much further along in their psychological and […]
Since its earliest tea plantations in 1929, Cameron Highlands has grown to become a key player in the agricultural landscape of Malaysia, producing 40 per cent of all vegetables grown. Despite Malaysia shifting its economic focus away from agriculture, the industry remains imperative for food security and the livelihoods of […]
Although at first glance the travel industry and the agricultural sector appear to have nothing in common, they actually share more than meets the eye. The economic benefits of tourism to the agricultural sector can be multiplied several times over. “Tourism brings the end consumers closer to the source, which […]
The Malaysia Global Business Forum (MGBF) recently held a high-level roundtable themed ‘Designing the Future of the Digital Economy’, attended by industry leaders and business associations. The guest of honour was Yang Berhormat Syerleena Abdul Rashid, the Member of Parliament (MP) for Bukit Bendera in Penang. The MP’s Special Session […]
The Malaysia Global Business Forum (MGBF) will be hosting a roundtable on ‘Designing the Future of the Digital Economy’ on 23 February 2023. It is the culmination of the first three MGBF Exclusive Roundtable Series titled ‘The Evolving Threat Matrix in the Digital Economy’ held throughout 2022. According to the […]
The Founding Chairman of the Malaysia Global Business Forum (MGBF), Nordin Abdullah, today spoke on Bernama TV’s leading English talk show, The Brief, hosted by Jessy Chahal, on the topic of a stable political reality and what that means for the Malaysian economy. Nordin said, “The first thing that it […]
More than 1,100 years ago, Muhammad ibn Musa al-Khwarizmi was developing the mathematical formulas that we know today as algorithms which now have become so intertwined with the business fortunes of global media giants and the very fabric of geopolitics. A series of recent high level international reports have revealed […]
KSK Land has been recognised by the Malaysia Global Business Forum (MGBF) for its role in attracting high net-worth individuals to Malaysia post-pandemic. The first challenge in investor attraction is “selling” the country. In the context of Asia, Malaysia is competing with some very established investment destinations. The second […]
Malaysia, in particular Kuala Lumpur, continues to position itself as a regional centre to do business, educate a family and enjoy a global lifestyle. One company, KSK Land, has taken the lead in positioning itself and the city of Kuala Lumpur as a property investment destination for the global citizen […]
The upcoming budget represents an opportunity to build resilience in the critical sectors that will form the backbone of the country’s future-facing economic ambitions. This however needs to be achieved in the context of managing the community sectors most impacted by COVID-19 over the past two years. The Keluarga Malaysia (Malaysian Family) […]
KUALA LUMPUR, 6 July 2022 – As the global economy continues to deal with unprecedented levels of disruption caused by the pandemic and the conflict between Russia and Ukraine, the convergence of energy security and food security issues has become a front-of-mind issue faced by policy makers and consumers alike. […]
KUALA LUMPUR, 23 June 2022 — Malaysia Global Business Forum (MGBF) ties up with scoutAsia to ensure that businesses are equipped with deeper regional insights. The past two years has seen a massive shift in the way businesses are conducted with digitisation, digitalisation and automation continuously being adopted to improve […]
KUALA LUMPUR, 25 May 2022 – The Malaysia Global Business Forum (MGBF)’s exclusive roundtable on ‘Security Concerns in Critical Value Chains’ was held in a hybrid setting yesterday at the Eastin Hotel Kuala Lumpur. The guest of honour was Yang Berbahagia Tan Sri Dato’ Seri Rafidah Aziz, former minister of […]
