Hong Kong Banks Put Generative AI at Top of Technology Investment Priorities

Hong Kong banks generative AI investment is accelerating as financial institutions make the technology and process automation their leading technology priority through 2030.

A Hong Kong Association of Banks and Deloitte survey found that 53% of respondents ranked generative AI and process automation as their top technology investment priority, indicating a move towards broader adoption.

The report found 52% of banks were optimistic about the industry’s development through 2030, while another 47% expected gradual improvement.

Respondents cited Hong Kong’s connections with mainland China, established financial infrastructure and market depth as important strengths supporting future growth.

Technology adoption also brings risks. Cyber resilience was identified as the biggest challenge by 36% of banks, while 25% ranked cybersecurity as their leading technology investment area.

The report set out 37 recommendations across four strategic pillars aimed at supporting development of Hong Kong’s banking industry through 2030.