AllianzGI launches Hong Kong hackathon; nine global start-ups will pitch their AI strategies to fund management executives
- Nine teams will present how their AI strategies can facilitate fund management during three-day Cyberport event
- Inaugural hackathon held as more fund houses embrace AI and big data in the investment management process
Allianz Global Investors, one of the largest asset managers in Europe, plans to partner with global start-ups in Hong Kong to expand use of artificial intelligence (AI) in its Asian operations to enhance fund returns, a move in line with government efforts to boost the city’s reputation as an innovation hub.
AllianzGI’s three-day AI Hackathon, held from Tuesday to Thursday in partnership with Cyberport, will allow nine start-ups to pitch to fund management executives on AI solutions to enhance fund investment performance, improve sales and support services.
Hong Kong Investment Funds Association chief executive Sally Wong said many fund houses in the city have adopted AI, which is helping to create a growing base of demand for start-ups focused on the fund management industry.
“More and more fund houses have been deploying AI and big data in the investment management process. It can greatly enhance the ability to analyse a large pool of data from more sources in a more timely fashion. But many key aspects still require human intellectual inputs,” Wong said.
The winners of the hackathon will be invited to use Hong Kong as a base to help develop AllianzGI’s AI platform in Asia. The qualifying start-ups are from New York, London, Paris, Shanghai, Beijing, Poland, Uruguay, and India. One team is from Hong Kong.
