FINTECH MANPOWER DEVELOPMENT IN ASIA-PACIFIC FINANCIAL CENTERS WITH A FOCUS ON ARTIFICIAL INTELLIGENCE AND BIG DATA PROFESSIONALS

13 12 Artificial Intelligence and Big Data Talent Development in Asia Pacific available, respectively. 21 In January 2021, the Global STEM Professorship Scheme was launched in order to attract world‑renowned I&T scholars and research teams to join universities in Hong Kong to teach and conduct research in STEM-related disciplines. 22 The Researcher Programme and the Postdoctoral Hub under the Innovation and Technology Fund (ITF) provides eligible organizations/companies with opportunities to recruit university graduates and postdoctoral talent to participate in industry and application-oriented research projects. As of November 2019, the two programs have created around 5,500 research positions. 23 The HKSAR Government has also organized a major initiative to transform Hong Kong into a world- class research cluster. AIR@InnoHK is one of the research clusters focusing on the development of AI, robotics technologies, big data analytics and machine learning so as to attract first-class overseas and local researchers to conduct related research in Hong Kong. 24 According to a report by the Vocational Training Council, the Government has invested and put in a lot of efforts into job opportunities and upskilling opportunities. For example, the Research Talent Hub has funded over 3,700 R&D positions. Over 3,500 employees of 1,800 companies have also received support for on‑the‑job training under the Re‑industrialisation and Technology Training Programme (RTTP). 25 Table 2.1 Manpower Requirements of the Information Technology and Information Services and its Sub-sectors in 2017 and 2027 26 Sub-sector Actual manpower requirements in 2017 Number Projected manpower requirements in 2027 Number Projected change from 2017 to 2027 Projected average annual rate of change (2017 - 2027) Telecommunication activities 21 000 24 500 + 3 600 + 1.6% Software publishing and information technology related services 51 300 65 500 + 14 200 + 2.5% Whole sector 72 300 90 000 + 17 800 + 2.2% Note: Individual figures may not add up to the totals due to rounding. 21. The HKSAR Government (2018, March 28). | LCQ22: Preparing for advent of an era of artificial intelligence. | https://www.info. gov.hk/gia/general/201803/28/P2018032800555.htm?fontSize=1 22. Innovation and Technology Bureau and Education Bureau (2021, January). | Legislative Council Panel on Commerce and Industry - Global STEM Professorship. | https://www.legco.gov.hk/yr20-21/english/panels/ci/papers/ci20210126cb1-482-3-e. pdf 23. Innovation and Technology Commission, the HKSAR Government (2020). | Hong Kong: The Facts. Innovation and Technology. | https://www.itc.gov.hk/en/doc/HK_factsheets_I& T_(EN)_Jun2020.pdf 24. Innovation and Technology Commission, the HKSAR Government (2019). | Technological Infrastructure: InnoHK Cluster. | https://www.itc.gov.hk/en/technological_infrastructure/innohk_clusters.html 25. Vocational Training Council (2021). | Reindustrialisation and Technology Training Programme (RTTP). | https://rttp.vtc.edu.hk/ 26. The Government of the Hong Kong Special Administrative Region (2019, December). | Report on Manpower Projection to 2027 (p.51). | https://www.lwb.gov.hk/en/other_info/mp2027_en.pdf 27. The Government of the Hong Kong Special Administrative Region (2019, December). ｜ Report on Manpower Projection to 2027 (p.52). ｜ https://www.lwb.gov.hk/en/other_info/mp2027_en.pdf Table 2.2 Manpower Requirements of IT Workers by Economic Sectors in 2016 and 2027 27 Economic sector Actual manpower requirements in 2016 & Number Projected manpower requirements in 2027 Number Projected change from 2016 to 2027 Projected average annual rate of change (2016 - 2027) Import, export, wholesale and retail trades, accommodation and food services 16 700 16 700 + 100 ** Information and communications 38 200 59 600 + 21 400 + 4.1% Financial services, real estate, professional and business services 17 100 19 100 + 2 000 + 1.0% Social and personal services 14 500 19 600 + 5 100 + 2.8% Others # 4 000 4 000 - 100 - 0.1% Total 90 400 119 000 + 28 500 + 2.5% & The actual manpower requirements of IT workers were compiled based on findings of the “2016 Manpower Survey on Information Technology Sector” conducted by the Vocational Training Council (VTC), which were the latest available information at the time the projection was being compiled. # “Others” include Manufacturing, Electricity, gas, water and waste management; Construction; Transportation, storage, postal and courier services. ** Rate of change within ±0.05% Note: Individual figures may not add up to the totals due to rounding.