Dr Rocky Cheng, CEO of Cyberport and a 2019 DBA alumnus, shares his insights with FB Magazine on the evolving role of leaders in an AI-driven economy, the challenges and opportunities presented by AI, and the initiatives Cyberport is undertaking to foster innovation and technology leadership.
What role do educational programmes play in preparing business leaders for technological advancements?
Dr Rocky Cheng: “Technology is constantly evolving. Over the last decade, we’ve seen FinTech become a major trend. Now, AI is taking centre stage and is set to drive advancements in fields like healthcare, education, finance and manufacturing for the next ten to twenty years. Whether it’s FinTech or AI, these innovations are powerful tools that business leaders can really leverage to make a difference.
“The DBA programme that I graduated from is very comprehensive, featuring a diverse cohort of students from various business disciplines, including IT, finance and marketing. It’s a rigorous programme that focuses on developing innovative solutions or improving existing ones to address real-world challenges, using a systematic approach and scientific methods. The programme framework is particularly useful for business leaders, who need to constantly adapt to shifting technologies, whether in FinTech, AI or other emerging tech trends in the future. It’s essential for FB to maintain this rigorous DBA framework, as it can also be applied to other doctoral programmes.
“For the new Doctor of Business Artificial Intelligence programme, the focus should be on understanding AI and its impact on society while cultivating students’ entrepreneurial spirit. The curriculum needs to cover essential topics such as digital leadership and transformation, fostering a digital mindset, and crafting business strategies. It should also explore corporate-level AI strategies, AI governance, ethics and risk management. To make it even more impactful, it should also include plenty of case studies, workshops and group projects centred around AI. This hands-on approach will ensure students are well-prepared for the fast-evolving tech landscape.”
What do leaders need to consider when tackling AI-related challenges?
Dr Rocky Cheng: “AI affects many aspects of a company, from product and service design and delivery to software design, finance, human resources, marketing and risk management. Understanding AI is crucial for all professionals, not just IT experts. For example, all professionals need to be able to evaluate whether AI-generated solutions are specific, accurate and unbiased. Many companies want to adopt AI, but they often struggle with the implementation. One of the biggest challenges they face is finding the right AI talent. Another major issue is that businesses can face continuity problems if they rely too heavily on AI without understanding the importance of risk management.
“To navigate the current AI-driven digital transformation, future leaders need to adapt their management styles in response to technological advancements. They don’t necessarily need to be AI specialists, but they need to build a strong foundation in AI to understand its broader implications for their organisations and for society. It’s also important that they recognise the limitations and risks associated with AI-powered large language models.
“Successful leaders should be able to craft AI or digital transformation strategies, set clear visions or targets for their businesses, and lead innovation initiatives with courage and confidence. To successfully integrate AI into their organisations, they need to revamp their talent strategies, communicate effectively, address their employees’ perspectives, foster collaboration, and ensure that the entire organisation is motivated and aligned on adopting AI. They also need to consider AI ethics and corporate social responsibility when formulating their digital transformation strategies. This way, they can ensure that AI technologies are used responsibly and make a positive impact.”
What initiatives is Cyberport undertaking to support an AI-driven economy?
Dr Rocky Cheng: “At Cyberport, we’re dedicated to maintaining Hong Kong's position as an international financial centre while supporting the city’s development as an international innovation and technology hub. AI is crucial in this effort because it increases operational efficiency and lowers costs. This in turn encourages the development of innovative products for businesses.
“Our AI Supercomputing Centre (AISC) and AI Lab have already commenced operations. Together with the government’s allocation of HK$3 billion for a three-year AI subsidy scheme to fund local institutions, R&D centres, and enterprises to utilise the computing power of the AISC. This will further enhance the development of the AI ecosystem in Hong Kong. The AI ecosystem encompasses key components such as computing power, general and professional large models, model risk assessment, system integrators, governance and ethics discussions. We are specifically developing various vertical AI models tailored to address the unique challenges, regulations and workflows of specific sectors such as healthcare, education, legal and finance. These vertical models are distinct from general-purpose horizontal AI models that can be applied across various industries. By specialising in vertical AI, we supercharge efficiency and spark innovation, providing businesses with tools that are seamlessly woven into industry-specific knowledge and practices.
“At Cyberport, we believe in the power of collaboration to drive innovation. We work closely with an extensive network of partners, including the Education Bureau to train teachers in STEM education, the Hong Kong Monetary Authority to explore FinTech initiatives and launch the GenAI Sandbox, and various banks to improve fraud detection, customer service and risk management.”
What initiatives would you suggest your alma mater undertake to collaborate with Cyberport in nurturing tech talent?
Dr Rocky Cheng: “One way we can work together with PolyU in nurturing tech talent is by offering certification courses or programmes that blend PolyU’s academic expertise with Cyberport's industry know-how and real-world business case studies. This kind of partnership can really equip professionals and budding entrepreneurs with the business acumen, strategic management skills and deep industry insights they need to develop effective strategies and enhance their governance practices.
“PolyU has a wealth of tech startup projects that could benefit from the Cyberport Incubation Programme. I’ve seen many promising projects developed at universities that stall after their prototype phase without being commercialised. By transforming these innovative ideas into viable businesses, we can not only generate profit but also create a positive impact on society. FB could also consider setting up an innovation centre at Cyberport. This would give students more opportunities to engage with more startups and explore collaboration opportunities.”
Finally, what qualities do you believe are essential for effective leadership in the age of AI?
Dr Rocky Cheng: “AI is evolving so quickly and bringing about transformative changes all the time. To be an effective digital leader, you need to be committed to lifelong learning to stay on top of the latest trends and use management frameworks that can adapt to shifting technologies. Collaboration and communication are absolutely vital. Today’s business leaders must take a holistic and systematic approach to management, using lateral thinking to solve problems.
“My career has been a journey of constant adaptation to technological advancements and the ever-evolving business landscape. It's about being flexible, staying informed, and always looking for new ways to innovate and make a positive impact on society. By doing this, you'll not only drive innovation but also ensure that your work contributes to the greater good.”
This interview has been edited for clarity and brevity.
The Outstanding PolyU Alumni Award of PolyU Faculty of Business recognises distinguished FB graduates for great distinction in their chosen fields, active support to their alma mater, as well as their impactful contributions to the wider community.
Faculty of Business (FB) is pleased to present the Outstanding Alumni Award of PolyU Faculty of Business 2024 to five distinguished FB graduates:
Outstanding Alumni Award in Professional Achievement of PolyU Faculty of Business Capt. Ming Fung Lothair LAM 林銘鋒船長 BSc (Hons) in Shipping Technology and Management (1998) |
Outstanding Alumni Award in Professional Achievement of PolyU Faculty of Business Dr Wai Yuan Leon LAM 林瑋源博士 Doctor of Business Administration (2019) |
Outstanding Alumni Award in Professional Achievement of PolyU Faculty of Business Ms Yuen Chun Jennifer TAN 陳婉真女士 Professional Diploma in Accountancy (1985) |
Outstanding Young Alumni Award in Entrepreneurial Achievement of PolyU Faculty of Business Mr Wai Ming LI 李偉明先生 BBA (Hons) in Accounting and Finance (2013) |
Outstanding Young Alumni Award in Scholarly Achievement of PolyU Faculty of Business Dr Guangzhi SHANG 尚廣志博士 BBA in Global Supply Chain Management (2010) |