The Hong Kong University of Science and Technology (HKUST) and HSBC today signed a framework agreement on a strategic partnership to accelerate innovation and talent development in artificial intelligence, emerging technologies and financial services through HSBC's newly established AI & Emerging Technology Institute.
The partnership agreement was signed during Hong Kong FinTech Week by Prof. Nancy IP, President of HKUST, and Mr. David LIAO, Co-Chief Executive, Asia and Middle East, HSBC, and witnessed by Prof. Harry SHUM, Chairman of the HKUST Council, and Mr. Stuart RILEY, Group Chief Information Officer, HSBC. The agreement marks a significant milestone in a relationship spanning nearly three decades, building on collaborations dating back to 1998 across research, fintech innovation, executive education, professional training and talent development.
The collaboration brings together HSBC's deep expertise and global experience in financial services with HKUST's world-class research capabilities in financial technology, artificial intelligence, business innovation and related disciplines. Through this collaboration, HKUST will contribute its academic and research expertise to support the Institute's ambition to advance knowledge, foster innovation and nurture talent at the intersection of technology and finance.
Under the agreement, HKUST will serve as the anchor academic partner of HSBC's newly established AI & Emerging Technology Institute, to strengthen the bank's innovation capabilities in Hong Kong and support the responsible adoption of transformative technologies.
The Institute will provide a platform for academia and industry to collaborate on emerging technologies that are reshaping financial services. Key focus areas include AI for banking and finance, post-quantum cryptography, cybersecurity, privacy-enhancing technologies, digital infrastructure and other emerging technologies, as well as AI upskilling.
The agreement builds on the collaboration in recent years. HKUST and HSBC established a strategic partnership for joint research and professional training in 2022 and subsequently collaborated on the e-HKD Pilot Programme led by the Hong Kong Monetary Authority. The two organizations have also worked closely on executive education programs covering AI in business, digital innovation, business analytics and data-driven decision-making, serving HSBC professionals across multiple business functions.
Mr. David Liao, Co-Chief Executive, Asia and Middle East, HSBC, said, "Technology is reshaping financial services at remarkable speed. HSBC will explore the opportunities it creates thoughtfully and strategically, turning the most valuable innovations into better outcomes for our customers. Hong Kong offers an exceptional base to lead this work, combining deep financial-services expertise, world-class research capability and strong connections across the Chinese mainland and international markets."
Prof. Nancy Ip, President of HKUST, said, "HKUST is proud to partner with HSBC in establishing the HSBC AI and Emerging Technology Institute. By combining HKUST's strengths in pioneering research and innovation with HSBC's deep industry expertise and international reach, we are creating a powerful platform to advance the development and responsible application of emerging technologies. Through this collaboration, we aim to accelerate the translation of research into practical solutions with real-world impact. Equally important, the partnership will foster talent development, knowledge exchange, and innovation across disciplines and sectors. Together, we hope to contribute to the future of financial services while reinforcing Hong Kong's role as a leading international center for innovation and technology."
As a leading research university with interdisciplinary strengths spanning artificial intelligence, data science, finance, engineering and business, HKUST will contribute cutting-edge research expertise and talent to support the Institute's mission of advancing trusted, responsible and impactful frontier technologies for banking and finance. The partnership also aligns with the University's commitment to strengthening collaboration between academia and industry, fostering knowledge transfer, and supporting Hong Kong's strategic development as an international innovation and technology center.
