AI and Chinese Companies Shine at FinTech Week as Web3 Hype Diminishes

Wednesday, 2 October 2024, 00:00

Xiaomi and Tencent Holdings highlight the shift in focus at FinTech Week, where AI dominates over Web3. This year's event showcases a strong representation of Chinese exhibitors, emphasizing advancements in artificial intelligence. The spotlight on AI indicates a broader trend in the industry, as companies adapt to evolving technologies and market demands.
Scmp
AI and Chinese Companies Shine at FinTech Week as Web3 Hype Diminishes

The Growing Importance of AI at FinTech Week

As Xiaomi and Tencent Holdings prepare to take the stage at this year's FinTech Week, it's clear that artificial intelligence (AI) is stealing the spotlight from Web3 innovations. Organizers InvestHK and Finoverse are showcasing a vast array of mainland Chinese companies eager to demonstrate their AI capabilities.

Key Trends Shaping FinTech Week

  • Enhanced focus on AI driven by major players like Ant Group and OpenAI.
  • Shift from a blockchain-centric view to one that prioritizes AI capabilities.
  • Increased representation of Shenzhen tech firms, highlighting the city's innovation landscape.

Connecting Markets and Technologies

FinTech Week, running from October 28 to November 1, serves as a connector between international markets and China, which is rapidly positioning itself as a leader in AI technology. According to King Leung from InvestHK, the event provides opportunities for international firms to engage with China's dynamic financial services sector.

The shift to AI indicates a broader commercialization trend. While blockchain technologies face hurdles, AI applications in areas like regulatory compliance and investment advice are expanding rapidly.

The Future of FinTech Week

Looking ahead, the organizers are pondering the event's evolution. As Hong Kong solidifies its role as an international finance hub, events like FinTech Week may continue to shape discussions around AI and other emerging technologies, positioning the city as a testing ground for global innovations.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


Related posts


Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe