Hong Kong Investment Corporation (HKIC), a HK$62 billion (US$8 billion) government fund, has inked a partnership with Galbot, a Beijing-based humanoid robot start-up, in the latest high-profile move from the financial hub to shore up its artificial intelligence (AI) industry.
The deal will see Galbot establish a local entity called HK-Galbot Embodied AI Lab, and the company will explore applications for humanoid robots in Hong Kong with pilot projects in industries including retail and tourism, HKIC CEO Clara Chan said on Friday at a signing ceremony.
Galbot will also work with local schools to set up training programmes for embodied AI – which is integrated into physical objects so that AI systems can interact with their environments – and train more than 100 teenagers every year, Chan said.
A potential benefit of embodied AI, according to Chan, is that it can replace humans in performing dangerous and tedious tasks.
The year-old Beijing start-up, the third company chosen by HKIC to boost Hong Kong’s technology sector, will also prioritise Hong Kong as its destination for an initial public offering in the future, according to Chan.
Companies the HKIC has collaborated with, including SmartMore and Biomap, are bringing technology, research capabilities, talent and pioneering products to Hong Kong, which will attract more companies and investment firms to the city, Financial Secretary Paul Chan said at the same event on Friday.