Technology will be 'driving force' of Macau's evolution from gambling spot to innovation hub, chief executive says

The development of technology, including generative artificial intelligence (AI), can help Macau to diversify from its traditional focus on gaming into a hub for entertainment and innovation, industry and government leaders have said at a Macau convention.

Macau's Chief Executive Ho Iat-seng said "technology is the driving force for development", stressing that collaboration among all sectors is important for transforming Macau into a leading innovative city.

The remarks came on Wednesday during Beyond Expo, billed as Asia's largest annual expo for tech innovation trends, held in Macau.

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"Macau is well positioned to be an innovation hub given its international free port, its politically neutral stance [and its] preferential business and foreign-trade environment," said Ho.

Macau chief executive Ho Iat-seng addresses the Beyond Expo in Macau on May 10, 2023. Photo: Handout alt=Macau chief executive Ho Iat-seng addresses the Beyond Expo in Macau on May 10, 2023. Photo: Handout>

Wang Weizhong, the governor of Guangdong province, echoed these sentiments. Technology can bring different cities together to create a more prosperous future, and the future of the region will require even more collaboration between Macau, Hong Kong and Guangdong, he said.

Macau is aiming to diversify its economy. Six hospitality and gaming giants - MGM China, SJM Holdings, Sands China, Wynn Resorts, Galaxy Entertainment and Melco Resorts and Entertainment - have made a nearly US$15 billion pledge to develop the city's non-gaming venues over the next 10 years.

The city is holding international conferences, exhibitions and culture-related exhibitions as part of the long-term diversification plans.

Joe Tsai of Alibaba Group Holding speaks at the Beyond Expo in Macau on May 10, 2023. Photo: Handout alt=Joe Tsai of Alibaba Group Holding speaks at the Beyond Expo in Macau on May 10, 2023. Photo: Handout>

Meanwhile, the government is striving to improve its tech infrastructure and become an attractive place for investors and top talent, Ho said, adding that the city is a bridge between China and Portuguese-speaking countries.

Joe Tsai, the vice-chairman of Alibaba Group Holding, which owns the Post, approved of Macau's ambitions.

"We are excited to see that Macau government is intent to move away from just a single industry of gaming into the world of entertainment, content, healthcare, sustainability and consumption," he said.

Andrew Sheng, chief adviser to the China Banking and Insurance Regulatory Commission, speaks at the Beyond Expo in Macau on May 10, 2023. Photo: Handout alt=Andrew Sheng, chief adviser to the China Banking and Insurance Regulatory Commission, speaks at the Beyond Expo in Macau on May 10, 2023. Photo: Handout>

Tsai added that generative AI technology is a "very interesting factor" that could help Macau to diversify.

Applications for AI are endless, he said, adding that it can be applied to digital entertainment, promotion and sports, he said.

Technologies like generative AI not only demonstrate how content can be created faster, but it has the ability to bring different cultures together, he said.

"The launch of ChatGPT late last year has had everyone completely entranced by the whole idea of generative AI," he said.

Tsai emphasised that the future of such innovation will be dependent on more connections between people. "We need more people-to-people interaction on the scientific, cultural and entertainment front," he said.

Speaking on a panel alongside Tsai, the chief adviser to China's banking and insurance regulatory commission, Andrew Sheng, said that technology is an aid to bringing people together.

Wang Weizhong, the governor of Guangdong province, addressing the Beyond Expo in Macau on May 10, 2023. Photo: Handout alt=Wang Weizhong, the governor of Guangdong province, addressing the Beyond Expo in Macau on May 10, 2023. Photo: Handout>

"Technology is a solution," said Sheng. "Those who do not understand the technology will be pushed further and further behind. And that's the biggest challenge that we now face is how to educate the masses - not for the elites, but for the masses."

The International Monetary Fund said in April that Asia-Pacific would power more than half of the global growth this year, which will be driven by China's reopening.

"We see that the world is changing and Asia is growing, but at the same time how do we use our own wisdom into new technology to face the new world?" Sheng said.

This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2023 South China Morning Post Publishers Ltd. All rights reserved.

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