HKUST Business School Magazine

Biz@HKUST 26 // Cover // Thought Leader Valeria STADALNINKAS MBA Today, we live in the context of an AI-enabled economy, and data is evolving into an essential and strategic resource. This research project cannot be more relevant and meaningful in the era of digital transformation and prevalence of emerging technologies. I am appreciative and grateful to be given this chance to be part of a truly global initiative aimed to make a digital space, particularly in the financial sector, a responsible, transparent and safe ecosystem for all the parties involved. The challenge and utter beauty of this project was the diversity of our group. It really fascinated me that we could bring completely different perspectives to the same issue which consequently encouraged us to think out of the box. Just the ability to listen to each other, make efforts to understand the rationale behind the ideas and suggestions, respect each other’s opinions, and perhaps the most crucial aspect, the common goal, is to make our journey productive and fun! WANG Can MSc in International Management I majored in finance in college and learned about many aspects of the industry, but not from an ethical point of view. As new technologies are changing the industry and people’s lives, it’s essential to discuss ethical challenges facing the industry today. Many countries have “regulation policies” on AI and blockchain technologies, but all have different attitudes and ethical principles. For example, the regulations in Singapore are based on the principles that AI should be explainable, transparent and fair. The most unforgettable experience we had on the project was co-presenting our project during the Copenhagen FinTech Week in September 2021. It was a great opportunity to receive feedback from real industry insiders. I would highly recommend this valuable experience because of the chance to get to work in a large global team and meet professionals from different backgrounds. We met experts and industry insiders through a series of workshop sessions. It is great to have the chance to work on such a meaningful project, and it also helps us achieve our personal goals. HKUST students participate in a research symposium, exploring solutions that make the world a better place with fintech. There are many reasons why Hong Kong must take the lead in hashing out these specific dilemmas, Tam says. Firstly, Hong Kong is one of the first places in the region to have data privacy regulations, so the city must set an example and act as a helpful reference for other Asian countries. Secondly, the Hong Kong Monetary Authority’s Fintech Talent 2025 strategy means that attention is focused on the fintech sector. How can Hong Kong continuously facilitate the breeding of what Tam calls a versatile “T-shaped” talent – someone who has deep expertise in a core field while being able to collaborate horizontally? “I think the current ‘Responsible Digital Leadership Project’ which HKUST is taking part in is a good start in this regard,” she says. Looking to the future, if Hong Kong wants to develop as a fintech hub, it needs a large talent pool which has an open mind towards new, creative technology ideas. The talent must also be aware of the current issues and dilemmas facing the world of fintech. “In the future, we hope to have more general cybersecurity regulations which cover more than just personal data. This is expected to better protect interests in the digital space,” Tam says.