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In this article, we have selected relevant news to help readers catch up with Financial technology, Artificial Intelligence and Big Data, especially in the Hong Kong market. The article also summarises how quantum supremacy affected businesses and Bitcoin users’ perception, and concluded with how AI can be used in healthcare and medical context.
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Blockchain investors in Hong Kong are now more cautious

The people of Hong Kong are now less confident in investing in blockchain. “Investors in Hong Kong per capita are more than other regions, but they tend to neutral or extremely cautious”, said Al Leong, Head of Customers Success at QRC Limited. In Asia, Singapore is the only country to remain aggressive investors in the market. Unlike Hong Kong, the study reported that since 2018, North America, South America, and Europe has had more investors and higher industry confidence in regions in the blockchain industry. 

Cloud spending is expected to increase every year

There are three ‘as-a-service’ models in Cloud Computing: SaaS, IaaS, PaaS. Last month, Hong Kong’s Monetary Authority launched an open API framework with these cloud-based soft wares to encourage banks to provide integrated services to customers. International Data Corporation (IDC) claimed that global businesses’ spending on the public cloud has reached US$160 billion in 2018 and this can be expected to grow by 21.9%, which can hit US$277 billion in 5 years. As for the Asian Pacific, the sector can be expected to grow to US$32.27 billion in 2021. The cloud is abstract service features carrying real-time collaboration of data storage, which can bring potential benefits to large businesses as well as small to medium enterprises. 

Hong Kong Fintech talents in the shortage

Many Hong Kong financial technology companies lack Fintech talents, expressing difficulties in finding available professional skills in the market. Maintaining skilled employees is not easy either as many of them switch jobs within 12 months. Not limited to talents shortage, a large number of existing employers also expressed concern and difficulties in professional skills in the financial technology industry. This can be very challenging as Hong Kong’s Fintech ecosystem is predicted to grow substantially in the next three years. It needs ‘a large and sustained increase in demand for talent’, said Natalie Lau, Managing Consultant of Michael Page Hong Kong. 

Hong Kong Standard Chartered's second eXellerator innovation lab

Recently, Standard Chartered opened its second eXellerator innovation lab in Hong Kong that focuses on developing solutions for its corporate, commercial and institutional banking clients. “Hong Kong is not only Standard Chartered’s largest retail market, it is also where some of our most important corporate commercial & institutional banking clients reside and where there is a vibrant ecosystem for technology and innovation. The new eXellerator lab location in Central gets us to the heart of it and we look forward to many more engagements and partnerships”, stated by Alex Manson, global head of Standard Chartered’s SC Ventures.

Quantum computing race and concerns

In September, Google announced to achieve its quantum supremacy and its rival IBM believed the claim was absolutely wrong. Following the trend, not only big technology corporations are on the race of quantum supremacy, but Alibaba and Baidu, two Chinese tech giants have also made quantum computing a top priority. Bitcoin users are concerned that this quantum technology can decode cryptographic data. Although Quantum computing threats are possible, they are far from getting to be realized at this stage.

AI adoption in healthcare may be difficult

Apart from current regulatory ambiguity, a challenge to the application of artificial intelligence in healthcare is their black-box nature. Users might not readily understand the program’s “logic and inputs” of utilized machine learning-based algorithms without further explanation. Especially In the clinical context, decisions made by failure #algorithms may lead to unfavourable effects. Even after the AI-powered therapeutic or diagnostic tools are upgraded and evolved, its existing status of approval can be put at risk. These namely obstacles can make AI adoption process in the healthcare industry slow.  

How Virtual Realities can help surgeons?

"Today’s rapidly evolving surgical landscape requires new ways to provide access to experiential surgical education. Virtual reality may offer an important educational tool to augment surgeon training and continue to offer patients the very best care." Some challenges for surgeons can be an inability to operate independently after residency, lacking adequate opportunities to practice skills they were learning, especially when it comes to new medical technologies. Virtual Realities platforms can help several aspects of these challenges, such as offering portable and on-demand training can be used anytime and anywhere.

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