Financial Secretary Paul Chan today discussed the application of artificial intelligence and highlighted the opportunities of the Guangdong-Hong Kong-Macao Greater Bay Area at two events while attending the World Economic Forum Annual Meeting in Davos, Switzerland.

Mr Chan attended a breakfast panel discussion organised by a global consultancy firm, focusing on the impact of AI on a city's development.

As one of the panelists at the session, he said that a major direction of Hong Kong's technological development would be AI, which could help promote the development of smart city and various industries.

Ahead of this event, Mr Chan met its senior management to discuss views on the development of Hong Kong's finance, accounting and insurance industries.

In the evening, he spoke at an event on starting businesses in the bay area and said that it offers limitless opportunities for new ideas and inventions.

Hong Kong has the know-how, experience and connections to help the next generation of entrepreneurs in exploring opportunities in the bay area.

Mr Chan then met the senior management of a Swiss reinsurance company with a business history of more than a century.

Apart from updating them on the latest measures launched by the Hong Kong Special Administrative Region Government in enhancing the competitiveness of the insurance industry and strengthening Hong Kong's status as an international financial centre, he encouraged them to leverage the city's unique advantages to tap into opportunities brought about by the bay area.

In the next two days in Davos, Mr Chan will meet finance officials from other countries and regions.