Computing giant Cisco on Wednesday said a major survey has found that only a minority of businesses in Hong Kong are ready to deploy and use artificial intelligence.
The US company said it spoke to more than 200 firms in the business and information and technology sectors across the territory as part of a poll of more than 8,000 companies around the world.
Almost all the firms in Hong Kong said they recognised the urgency for adopting AI – but only a quarter were found to be “fully prepared”, Cisco said.
Nelson Chu, head of systems engineering at Cisco Hong Kong and Macau, said businesses haven’t put aside the money needed for AI investment.
“[Almost] all enterprises in Hong Kong who responded to the survey think they have a good strategy to be fully ready for the AI journey… But only one third of them had the budgets allocated to AI investment and to support these initiatives and strategies,” he said.
“Enterprises should look into their infrastructure because it involves the planning, architecture… And of course, security is another thing they need to have a comprehensive consideration.”
The survey also found that the AI readiness of local firms is slightly better than the global average.
“I think Hong Kong is a leader in different technological areas. I’m not surprised Hong Kong is better than the global average. They have the strategy and they are more eager to try new things,” Chu said.