AI could boost Hongkongers' salaries by up to 28%, if employers bridge training gap, Amazon research says

Artificial intelligence (AI) could significantly boost the productivity and salaries of workers in Hong Kong, but the city must close a looming training gap to help employees tap the technology's full potential, according to new research.

Hong Kong workers with AI expertise could see their salaries improve by up to 28 per cent, according to a study published on Monday by Amazon Web Services (AWS), a cloud-computing platform. Hongkongers working in information technology and research and development are expected to enjoy the highest pay bumps, followed by sales and marketing professionals.

Besides boosting salaries, AI could improve organisations' productivity by up to 47 per cent, said the report, conducted by policy consulting firm Access Partnership on behalf of AWS. Most of the 517 employers and 1,634 employees surveyed late last year said they expect to see AI being used to improve workflows and outcomes, automate repetitive tasks and support learning.

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Generative AI, which creates content such as text and video, is also gaining traction across companies in Hong Kong: 94 per cent of employers and 91 per cent of employees expect to use it in their jobs within the next five years, the survey found.

"The rise of generative AI represents an unparalleled opportunity for Hong Kong businesses to drive innovation, enhance productivity and stay ahead of the curve," said Robert Wang, AWS's managing director for Hong Kong and Taiwan.

However, at the moment, employers across Hong Kong do not have sufficient resources in place to teach employees to use AI tools. Even though 70 per cent of employers identified AI-skilled talent as a "top priority", 76 per cent said they lack the knowledge to implement an AI workforce training programme.

Another 70 per cent of employers said they do not have the financial means for training, while 69 per cent said employees do not have enough time to learn AI skills outside their core work responsibilities. As such, 73 per cent of employers said they find it challenging to recruit suitable AI talent.

"Nurturing an AI-skilled workforce is essential to unlocking the full potential of these technologies," Wang said.

Nonetheless, Hong Kong is ahead of the curve in using AI, compared with its global peers. A survey of more than 25,000 employees conducted last November by the Oliver Wyman Forum showed that 84 per cent of Hong Kong employees used some form of AI in their jobs. Hong Kong's use of the technology was also above the global average of 80 per cent, on par with Singapore.

Hongkongers are broadly optimistic about the impact of the technology on their jobs, especially those working in the financial-services sector, which accounts for a quarter of the city's gross domestic product.

According to the AWS survey, 71 per cent of finance workers said they expect AI to have a positive impact on their careers and organisations. Among that group, 91 per cent said they use AI tools now, and 94 per cent expect to use them by 2028.

"Workers in the sector are well positioned to reap the benefits of AI, with 81 per cent saying they are 'intermediate' or 'advanced' in AI fluency," AWS said.

This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2024 South China Morning Post Publishers Ltd. All rights reserved.

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