Global Markets
Home›Global Markets›China›Hong Kong firms lag on AI and cybersecurity board expe…
Hong Kong firms lag on AI and cybersecurity board expertise
The Grant Thornton Hong Kong review of 100 Hang Seng Composite Index companies found 59% see AI or cybersecurity as a principal business risk, but only 11% have specialized board committees to oversee digital threats.
Hong Kong executives at the largest listed companies lack sufficient technology expertise for the AI era, according to a Grant Thornton Hong Kong corporate governance review. The firm found that fewer than 1 per cent of directors have dedicated artificial intelligence or cybersecurity skills.
The report, its 15th annual Corporate Governance Review, surveyed 100 major listed firms on the Hang Seng Composite Index. It also found that 59 per cent of companies view cybersecurity or AI as principal business risks, while only 11 per cent had set up specialized board committees to oversee digital threats and technology integration.
Grant Thornton said the gaps persist despite updated Hong Kong Exchanges and Clearing Corporate Governance Code standards introduced last year. Those standards include mandatory director training, board skills matrices, and stricter overboarding limits.
Barry Tong, head of advisory at Grant Thornton Hong Kong, said overall disclosure quality on HKEX has improved, but there remains a disconnect between risks companies acknowledge and the technical expertise at the top.
Latest closeHang Seng 24,510.09 ▼1.0%