HKUST Business School Magazine

Hong Kong is undergoing a significant transformation to establish itself as one of the world’s leading digital hubs. Commitment to this goal was made clear during April’s Digital Economy Summit, where government representatives outlined five key pillars for development: enhancing policy initiatives, strengthening relevant infrastructure, improving cross-border data flow, creating a sustainable talent strategy, and expediting overall efforts towards digital transformation. As this shift becomes a priority for businesses in every sector, HSBC, Hong Kong’s largest banking institution, is taking proactive measures to play a crucial part in advancing these changes and helping others stay ahead of the game. “We see this digital hub ambition as a positive development for Hong Kong to future-proof its position as an international finance center and also diversify its economy from traditional sectors to create new opportunities for growth” said Bojan Obradović, Chief Digital Officer Hong Kong at HSBC. “We have a very long heritage here, and an important role now in helping Hong Kong move towards that vision in an audacious and sustainable manner.” Obradović emphasized that digital transformation will be exciting, but it also carries risks. It is not just a short-lived trend, but a business imperative, which requires thoughtful handling and involvement from everyone in the organization. Unlocking cutting-edge sectors Obradović pays close attention to emerging technologies and innovations that could impact the financial services industry. “I deal with cutting-edge sectors with an aim to understand how we can take these frontier technologies and commercialize them in line with the bank’s priorities,” he said. To this end, HSBC has been active in collaborating with government officials, regulators, experts in academia, and taking part in joint working groups with the likes of the Hong Kong University of Science and Technology. The aim is to promote technological transformation in the world of finance and, to date, projects have focused on everything from digital assets and AI to FinTech ecosystems. At the same time, Obradović is responsible for driving change initiatives within HSBC, a process that begins with generating ideas before turning them into viable products and services. Doing that depends on having the right people with the right skills working in an environment that fosters an innovation culture. “They are the essential building blocks for success in any venture, but in particular for cutting-edge innovation where there may not be well-trodden paths ahead,” he said. “If Hong Kong wants to achieve its digital ambitions, it must be selective and forward-looking in attracting and nurturing talent.” Biz@HKUST 17