Hong Kong must brace for AI bubble risk and quantum computer threat: HKMA chief

Eddie Yue Wai-man, the chief executive of the Hong Kong Monetary Authority, warned about the risks of an AI bubble burst. Speaking on Sunday, he emphasized that the financial sector must prepare for challenges posed by advancements in AI and quantum computing. Yue stated that the HKMA would focus on enhancing the internationalization of the yuan in the coming years, reflecting Hong Kong's strategy to strengthen its position as a global financial hub. He noted that the current excitement in the AI sector could lead to significant risks if not managed carefully.