The rise of property technology has changed the real estate market towards more tech-enabled buildings and work offerings. It significantly improves client experience and makes informed investment and property management decisions. Artificial intelligence, immersive technologies, internet of things (IoT), big data and analytics, blockchain and drones are the major property technology trends today. The use of these technologies in the real estate market is still in infant stage, however with rapid innovation taking place. This is an indication of future growth with enormous opportunities and a quest of talents with advanced data analytics skills for insight generation, strong competence in applying property technologies for delivering business solutions and customer experiences with agility and creativity in the future.
Announced by the Government, "Hong Kong Roadmap on Popularisation of Electric Vehicles" has set out the way to zero vehicular emissions for Hong Kong by 2050. Despite the rapid emergence of electric vehicles in the local market, there is still a huge demand for the maintenance of mainstream internal combustion engine vehicles. In terms of commercial vehicles, local franchised public bus companies are gradually introducing electric buses and hydrogen buses to diversify the development of new energy vehicles in Hong Kong. The automotive industry needs mechatronic talents to sustain the development of new energy vehicles in Hong Kong. Training programmes should be tailored to meet the needs of the industry so that practitioners can effectively grasp the professional skills involved.
Skilled and talented technical workforce is vital to the research and innovation for contributing knowledge, developing and maintaining the equipment and infrastructures to support the innovators and researchers to develop their inventions. Taking in consideration of the high demand and importance of these technical positions, more resources and efforts should be devoted to enlarging and building up Hong Kong’s own competent technical workforce base. Together with Hong Kong’s competitive advantages, especially on scientific research capabilities and enormous business opportunities arising from the 14th Five-Year Plan and the development of the Guangdong-Hong Kong-Macao Greater Bay Area, Hong Kong continues to develop and sustain as an international innovation and technology centre.
Environment, Social and Governance (ESG) are the main pillars of corporate sustainability in which it concerns organisations’ behaviour and non-financials. Owing to the rising concern on social and environmental issues, many large jewellery companies have joined relevant organisations and undertook to comply with the standards related to morality, human rights, environment and social responsibility. Since these companies also request their suppliers to fulfill these ESG standards, local jewellery suppliers and manufacturers should pay attention to their ESG performance to ensure compliance with their partners’ requirements and enhance their own competitive edge.
With the aging population and the prevalence of the COVID-19 epidemic in Hong Kong, citizens are increasingly concerned about their health. In recent years, there is increasing demand for pain-management services, citizens place growing importance on physical fitness, exercises, and health, as well as consider health food as necessities in life. All of these factors have led to the rapid expansion and development of beauty health care, wellness and related sectors in Hong Kong. In order to enhance competitiveness, the sectors have strengthened the use of information technology, through analysing data to understand the consumers’ preferences and offer personalised beauty health care and well-being services that meet customers’ needs, as well as using social media for publicity and promotion. As some beauty health care services may involve traditional Chinese medicine or western medicine, the sectors must be very aware and avoid violating relevant laws.
The entire T&L industry is accelerating the pace of digitalisation with the pandemic as the catalyst which has led to various new technologies development across the sectors. Use of enhanced e-logistics solutions, Internet of Things (IoT), digital technologies, and Artificial Intelligence (AI) are some of the new developments to enhance the operation and create a competitive advantage to cope with the increased demands and expectations from customers.
The retail industry was hard hit by COVID-19. Retailers who have begun digital transformation with robust e-commerce sites and retail technologies were able to make changes to pivot their operations to adapt to the COVID restrictions, meet new customer needs, and generate sales. Others who have not yet started digital transformation or no e-commerce platform lost revenue and customers. Therefore, retailers saw the need to develop new retail in their businesses, an integrated retail delivery model which converges digital and offline experiences using omni-channel strategies to enhance customer experience. In this online-merge offline (OMO) model, retailers tried to make shopping not just about the in-store experience, website, or mobile shopping, but about every experience the customer has with the brand at every touchpoint. The change of the retail direction has brought retailers to examine the shift of customer behaviour, the data which provides business insights, the customer journey they need to create, and the digitalisation of business operations to enhance efficiency and consistency.
Practitioners of the media and communications (MC) industry constantly embrace advanced technology to create new experiences for readers, audiences and potential consumers. The expanding e-commerce market in the post-pandemic era, adoption of artificial intelligence, AR and VR technologies, and new immersive virtual world – metaverse, all lead to more business opportunities for this vibrant industry. Engaging and retaining experienced staff to design and provide new services in the dynamic environment is one of the challenges faced by employers.
The plight of the COVID-19 pandemic has made inroads into almost every industry globally but the hospitality sector has been particularly hard hit. Some hoteliers survive by operating as Designated Quarantine Hotels, as well as to continue with the staycations, daycations and extended stay programmes. When business from international travellers and local spenders continues to gather momentum, coupled with Hong Kong’s strategic role in the Greater Bay Area, the battered hotel sector should be able to spring back gradually.
While having a glimpse of the silver lining at the start of 2022, the public was caught off guard with the onslaught of the Omicron variant which was just about one month ahead of the longed for Chinese New Year celebrations. Once again, the industry has to stand against a devastating blow. Nonetheless, riding on the Government’s support to encourage local spending, promote cultural tourism and multi-destination travel in the Greater Bay Area (GBA), industry stakeholders could complement the strengths of our GBA partners in arriving at an international cuisines hub in the longer term when normalcy returns. Manpower with enthusiasm and passion to bring the industry to the higher realms would be in demand.
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