Hong Kong's largest artificial intelligence (AI) supercomputing center officially commenced operation Monday, providing the much-needed computing power to bolster the city's ambition of becoming a leading innovation and technology (I&T) hub.

Located in Cyberport, which hosts over 330 startups specializing in AI and big data, the supercomputing center is expected to deliver up to 3,000 petaFLOPS of computing power -- capable of processing 10 billion images in just one hour. This resource will cater to the rising demand from universities, tech companies, and research institutions.

"Artificial intelligence is perhaps the most critical technology for Hong Kong's development of new-quality productive forces," said Sun Dong, secretary for innovation, technology and industry of the Hong Kong Special Administrative Region (HKSAR) government. "Hong Kong must actively seize the opportunity to lead in AI development."

In recent years, the HKSAR government has increased investments in science and technology to invigorate established sectors such as finance and trade while exploring new growth engines as the city stands at a pivotal point in its economic transformation.

In December 2022, the HKSAR government unveiled a blueprint outlining strategies to establish Hong Kong as one of the world's foremost I&T centers. Among its ambitious goals, the plan aims to raise the manufacturing sector's contribution to GDP from 1 percent in 2020 to 5 percent by 2030.

"In the era of the hub economy, competitive cities must evolve beyond their traditional roles as commercial and financial centers," remarked Liu Ningrong, associate vice-president at the University of Hong Kong, adding that translating the city's academic excellence into technological breakthroughs will be crucial for its transition.

Home to five of the world's top 100 universities, Hong Kong boasts a wealth of renowned scholars and experts known for their groundbreaking R&D outcomes. However, the city faces limitations such as a lack of space for large-scale industrial development.

"For a long time, Hong Kong's tech sector has been caught in a 'chicken or egg' dilemma. Without developed industries, talent cannot be retained; without talent, industries cannot thrive," said Lyu Jian, dean of the College of Engineering at City University of Hong Kong.

To address this challenge, the HKSAR government has been actively attracting "key enterprises" to the city, encouraging them to establish R&D centers or global headquarters in Hong Kong. In the past year, tech firms such as Baidu, Cisco, and iFLYTEK have signed cooperation agreements with local incubators to enhance AI-related activities.

Investment is also on the rise. In his latest policy address, HKSAR Chief Executive John Lee proposed establishing an industry-oriented fund to channel more market capital into emerging and strategically important industries, including AI, life and health technology, advanced materials, and new energy.

"The goal is to systematically build an I&T ecosystem," Lee said.

The launch of the AI supercomputing center on Monday brought together both startups and established firms within the city's burgeoning I&T ecosystem. Wang Liwei, founder of Weitu AI, a Hong Kong-based startup developing large multimodal models and products, noted that the city's initiatives to promote I&T have attracted numerous talents who studied or worked abroad to establish businesses in Hong Kong.

"We believe these new initiatives will further accelerate Hong Kong's I&T development, and we want to be part of this journey," he said.