Hong Kong's AI bet through Temasek-style fund signals strategic shift

HONG KONG -- The Hong Kong government is shifting its investment strategy as part of a comprehensive effort to transform the city into a tech hub as geopolitical pressure builds and its traditional growth drivers of finance and property face challenges.

Last week, the government-owned Hong Kong Investment Corp. (HKIC) announced its first public investment in SmartMore, an artificial intelligence company dual-headquartered in Shenzhen and Hong Kong. SmartMore focuses on applying AI to production lines, such as machine vision that can conduct visual inspections in lieu of human labor.