How Hong Kong’s hi-tech data technology hub can help manufacturing firms accelerate digital transformation

State-of-the-art infrastructure at Hong Kong Science and Technology Parks Corporation’s building gives companies access to technology to optimise data

Tenants include NiRoTech, maker of home access and safety control devices, and Acoustic Metamaterials, designer of smart materials with soundproofing abilities

Paid Post:Hong Kong Science and Technology Parks Corporation

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Published: 9:55am, 29 Sep 2021Updated: 10:42am, 14 Jan 2022

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It is four years since international economic observers began to acclaim data as a more valuable resource than oil, yet discussions about the topic and – more importantly – its estimated economic worth, are showing no signs of waning.

Consultancy firm McKinsey & Company has predicted that using advanced analytics and artificial intelligence (AI) to harness data will create between US$9.5 trillion and US$15.4 trillion of economic value annually, while the Organisation for Economic Co-operation and Development has identified data-driven innovation as a key pillar of economic growth for the 21st century.

Hong Kong’s DT Hub, located next to the site of HKSTP’s planned Advanced Manufacturing Centre in Tseung Kwan O Industrial Estate, gives companies access to the technology they need to optimise their use of data.

For companies, big data can be used for everything from optimising operations, to gaining customer insights, to accelerating research and development. But much like oil, which needs to be extracted from the ground and refined, data is valuable only if it can be collected, stored and analysed.

Data-driven efficiency