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Hong Kong’s 2025-26 Budget Advances Innovation and Technology


HONG KONG SAR – Media OutReach Newswire – 28 February 2025 – Driving innovation and technology was a key focus of Hong Kong SAR’s Financial Secretary Paul Chan’s 2025-26 Budget. Identifying Artificial Intelligence (AI) as being at its core, Mr Chan said Hong Kong would leverage its competitive edge under the “one country, two systems” principle to become an international exchange and co-operation hub for the AI industry.

The HKSAR Government will promote Hong Kong as an international exchange and co-operation hub for the AI industry.
The HKSAR Government will promote Hong Kong as an international exchange and co-operation hub for the AI industry.

“Through frontier research and real-world application, we will endeavour to develop AI as a core industry and empower traditional industries in their upgrading and transformation,” he said.

Financial Support

As the latest effort, the Financial Secretary set aside HK$1 billion for the establishment of the Hong Kong AI Research and Development Institute, to spearhead and support Hong Kong’s innovative R&D as well as industrial application of AI.

In terms of fund-raising for tech enterprises, the Hong Kong Exchanges and Clearing Limited is taking forward the establishment of a dedicated “technology enterprises channel” (TECH) to facilitate the relevant companies in preparing for listing applications, Mr Chan said.

To foster smart manufacturing, the Financial Secretary set aside HK$100 million for the planned launch of the two-year Pilot Manufacturing and Production Line Upgrade Support Scheme (Manufacturing+) this year. Under Manufacturing+, the Government would provide funding of up to HK$250,000 each on a one-to-two matching basis to enterprises operating production lines in Hong Kong to support their formulation of smart production strategies and introduction of advanced technologies into existing production lines.

Cultivating new high-tech outcomes to tackle economic challenges is a key focus of Hong Kong’s 2025-26 Budget.
Cultivating new high-tech outcomes to tackle economic challenges is a key focus of Hong Kong’s 2025-26 Budget.

Fostering Frontier Research

Mr Chan said the Hong Kong Space Robotics and Energy Centre, set up under the InnoHK Research Clusters, is aiming to develop a multi‑functional lunar surface operation robot, which will contribute to the country’s Chang’E‑8 mission.

The Government has also started preparatory work for the establishment of the third InnoHK research cluster, which will focus on advanced manufacturing, materials, energy and sustainable development.

International Exchange and Co-operation Hub

To promote international exchange and co-operation on AI, Mr Chan revealed several high-level events to be hosted in Hong Kong.

The Hong Kong Investment Corporation (HKIC) will host the first International Conference on Embodied AI Robot, gathering top‑notch technology enterprises, academic institutions and investors to showcase the latest R&D outcomes and application scenarios.

To bring together top talents in the industry to study the development and application of AI, the HKIC will also host the first International Young Scientist Forum on Artificial Intelligence, promoting research of AI technology and its development as an industry.

Other pro-innovation initiatives

Meanwhile, the interdepartmental Working Group on Developing Low‑altitude Economy, established at the end of last year, is examining the applications for the first batch of Regulatory Sandbox pilot projects, with a view to expanding the scope of low‑altitude flying activities. The Government is also reviewing civil aviation legislation to enhance the regulatory regime in support of long-term development of the low‑altitude economy.

At the same time, with Low Earth Orbit satellites being a new trend in global satellite development, Mr Chan said the Government was exploring a set of streamlined procedures for vetting licence applications for operating Low Earth Orbit satellites.

Hashtag: #hongkong #brandhongkong #asiasworldcity #budget #ai #artificialintelligence





The issuer is solely responsible for the content of this announcement.

HTX’s USDD Earn Now Offers 20% APY: Hedge Against Crypto Crash with High Yield

SINGAPORE, Feb. 28, 2025 /PRNewswire/ — As the cryptocurrency market faces renewed turbulence, Bitcoin (BTC) has pulled back to around $80,000, while Ethereum (ETH) extends its slide. According to CoinGlass, market sentiment has sunk into “Extreme Fear,” fueling widespread investor anxiety. In this environment, investors are actively seeking stable and high-yield opportunities to hedge against volatility and preserve capital.

Amid the turbulence, recently, a HTX user Tony Wang shared their positive experience with the USDD Earn 2.0 product, showcasing consistent returns. “Even in a bearish market, the consistent yields from USDD Earn have provided stability for my portfolio. It’s reassuring to have a safe haven while the rest of the market is in freefall,” said the user. This sentiment is echoed by many investors who strategically moved a portion of their assets into HTX’s USDD Earn product prior to the recent BTC’s sharp decline. With a 20% annualized yield, they’ve managed to outperform the market and maintain steady returns despite broader market losses.

HTX’s USDD Earn Yields 20% – Optimal Stability and Yield 

Beyond trading, HTX offers a robust wealth-building ecosystem designed to help users thrive in any market conditions with a diversified suite of investment products.

The upgraded HTX’s USDD Earn product offers a market-leading 20% APY. USDD is a USD-pegged stablecoin, highlighting low volatility as a preferred choice for conservative investors. Stability and high yield make this product one of the most attractive stablecoin yield opportunities available today.

HTX is set to roll out a major upgrade to its USDD Flexible Earn product next week, introducing USDT deposits for seamless subscriptions. Users will soon be able to deposit USDT into USDD Earn, unlocking a 20% APY with unparalleled flexibility. USDD Flexible Earn 2.0 boasts a string of strengths including 1:1 USDT to USDD conversion with no slippage, hourly compound returns, limited-time yield boost, and streamlined operation.

USDD: The Premier Choice for Stable and Secure Yields

Backed by robust reserves and professional asset management, USDD has emerged as a top-tier stablecoin for investors seeking stability. Through HTX’s USDD Earn, users can enjoy an astonishing 20% APY while minimizing exposure to market volatility. This competitive APY surpasses alternative peer products, delivering exceptional returns in a risk-mitigated environment. USDD maintains its peg with strong reserve backing, ensuring its reliability for long-term wealth preservation, even during market fluctuations.

One of the key advantages of HTX’s USDD Earn is its unrestricted access—investors can deposit and withdraw at any time, without lock-up periods. This flexibility caters both short-term liquidity needs and long-term wealth growth strategies.  To get started with USDD Earn, users can navigate to the  HTX app > homepage > Earn > Simple Earn > Flexible; alternatively, go to the Assets page > Earn > Flexible.

HTX upholds the highest security standards to safeguard user assets. Levering HTX’s strong USDD reserve, users can earn high stable yields with peace of mind, knowing that their funds are protected against market shocks. HTX’s comprehensive security framework reinforces trust and reliability, ensuring users can focus on maximizing returns without worrying about asset safety.

HTX Earn’s Diverse Offerings: Enhanced Choice, Reliable and Secure Returns

In addition to the USDD Earn, HTX also offers 7-day Fixed products for BTC, ETH, and USDT with a 10% APY, designed to maximize returns. HTX allocates a 30,000 USDT equivalent subscription quota per user for each product. Upon full subscription, users will accrue approximately 57.53 USDT in returns at maturity.

While fostering wealth growth, HTX prioritizes user asset security. The platform employs a range of robust security measures to safeguard user funds. Moreover, HTX’s professional investment team provides data-driven asset allocation guidance, empowering users to achieve their financial goals.

HTX also delivers 24/7 customer support. Whether you’re a beginner or a seasoned trader, users can receive prompt assistance and investment insights. At HTX, you are more than just a user; you are a valued partner. Regardless of market conditions, HTX will always stand by your side, offering reliable guidance and unwavering support every step of the way.

Amidst market uncertainty, investors prioritize stable, high-yield opportunities. HTX’s USDD Earn, delivering a 20% APY and robust stability, is a compelling solution. Opting for HTX means selecting a proven and reliable path to financial growth.

About HTX

Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, wallets, research, investments, incubation, and other businesses. As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance”, HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide.

Contact Details
Ruder Finn Asia
htx@ruderfinn.com
Company Website
https://www.htx.com

JETOUR T1: The SUV Shows Great Potential to Stand Out in the Middle East and Global Markets

RIYADH, Saudi Arabia, Feb. 28, 2025 /PRNewswire/ — Recently, industry-leading SUV brand JETOUR Auto held the global launch of its new model ‘JETOUR T1’ in Saudi Arabia, with the model marking JETOUR’s foray into the urban lite-off-road SUV segment and promoting its ‘Travel +’ concept, thus being highly significant for market expansion and brand building. JETOUR T1 is a product of global R&D capabilities and shows the brand’s achievements in technological innovation, its confidence in the Middle East market and further globalization.


The global off-road vehicle market, valued at USD 17.51 billion in 2024, is estimated to reach USD 25.76 billion by 2032 at a 4.95% CAGR during 2024-2032. The Middle East has a strong culture of off-road and outdoor activities, which influences the purchase of relevant vehicles like light off-road SUVs. In Saudi Arabia and the Middle East, where diverse terrains and complex roads demand high off-road performance and reliability, the launch of T1 offers consumers a new lite off-road option, meeting their rising need for multi-functional SUVs. The launch of JETOUR T1, which provides consumers in Saudi Arabia and the Middle East with a new lite off-road SUV option to meet the local market’s growing demand for multipurpose SUVs, is expected to gain a share in the regional market.

Since 2019, JETOUR has achieved remarkable cumulative sales, attracted countless global fans, and its world-class system capabilities strongly support its globalization drive. JETOUR Auto’s VP Ke Chuandeng stated that “JETOUR has established a good number of sales and service outlets and is preparing to establish research institutes overseas. Besides, we are also backed by top-tier partners like Bosch, CATL, Huawei. At the same time, JETOUR has also promoted its brand elevation through diversified marketing strategies, enabling the global implementation of its “travel+” strategy. These efforts have not only enhanced JETOUR’s influence in international markets but also paved the way for the brand’s continued innovation and development.”

The launch of JETOUR T1 in Saudi Arabia set a strong base for the brand’s regional growth. Through its innovative lineup, partnerships, and marketing, JETOUR can capture a large Middle East SUV market share and keep expanding globally.

Spackman Entertainment Group Returns To Profitability, Posting US$3.52 Million In Total Comprehensive Income For FY2024

  • The Group recorded US$3.52 million in total comprehensive income for FY2024 as compared to a total comprehensive loss of US$8.47 million for FY2023
  • The turnaround was mainly due to an increase of US$6.53 million in other income and gains, primarily driven by a US$5.96 million reversal of an impairment loss on the share of results of the Group’s 43.88%-owned associated company, Spackman Media Group Limited
  • The reversal is attributable to the successful listing of Crystal Planet Limited, one of Spackman Media Group Limited’s subsidiaries, through a reverse takeover transaction on the TSX Venture Exchange

SINGAPORE – Media OutReach Newswire – 28 February 2025 – Spackman Entertainment Group Limited (the “Group“), one of Korea’s leading entertainment production groups founded in 2011 by global media & technology investor Charles Spackman, wishes to announce that the Group returned to profitability, recording US$3.52 million in total comprehensive income for the financial year ended 31 December 2024 (“FY2024“) as compared to a total comprehensive loss of US$8.47 million for the financial year ended 31 December 2023 (“FY2023“).

The turnaround was mainly due to an increase of US$6.53 million in other income and gains year-on-year to US$6.56 million for FY2024, which was primarily driven by the reversal of an impairment loss on the share of results of the Group’s 43.88%-owned associated company, Spackman Media Group Limited (“SMGL“), by US$5.96 million. This was in relation to the successful listing of Crystal Planet Limited, one of Spackman Media Group Limited’s subsidiaries, through a reverse takeover transaction on the TSX Venture Exchange, as announced by the Group on December 6, 2024.

The Group’s wholly-owned indirect subsidiary Studio Take Co., Ltd. (“Studio Take“) released the Korean adaptation of the Taiwanese hit YOU ARE THE APPLE OF MY EYE on 21 February 2025 in Korean theatres. The romance film remake originally premiered at the 29th Busan International Film Festival in October 2024. Studio Take plans to release an upcoming film project titled THE GUEST, which is currently in post-production and tentatively scheduled for release in late 2025 or early 2026. The film is based on the short film with the same title directed by Yeon Je-gwang, which was invited to the 2016 Cannes Film Festival.

To sustain the Group’s business operations amidst the current slowdown in the Korean movie industry, the Group plans to continue to streamline its existing operations, and explore new business initiatives as well as strategic alternatives.

Hashtag: #SpackmanEntertainmentGroup

The issuer is solely responsible for the content of this announcement.

About Spackman Entertainment Group Limited

Spackman Entertainment Group Limited (“SEGL” or the “Company“), and together with its subsidiaries, (the “Group“), is one of Korea’s leading entertainment production groups. SEGL is primarily engaged in the independent development, production, presentation, and financing of theatrical motion pictures in Korea.

The Company was founded in 2011 by renowned media and technology investor Charles Spackman who served as the Company’s Executive Chairman until 2017. For the past two decades, Mr. Charles Spackman has been a powerhouse in the Korean entertainment industry starting in the early 2000’s with the pioneering success of Sidus Pictures, the largest movie production company at the time and the first to be listed in Korea. Mr. Spackman is also the Founder, Chairman and Chief Executive Officer of the global investment firm, Spackman Group. For more information, please visit charlesspackman.com and spackman-group.com/charles-spackman.

Since its founding, SEGL had produced more than 30 major motion pictures including a number of the highest grossing and award-winning films in Korea, namely #ALIVE (2020), CRAZY ROMANCE (2019), DEFAULT (2018), MASTER (2016), THE PRIESTS (2015), SNOWPIERCER (2013), COLD EYES (2013) and ALL ABOUT MY WIFE (2012).

Our films are theatrically distributed and released in Korea and overseas markets, as well as for subsequent post-theatrical worldwide release in other forms of media, including online streaming, cable TV, broadcast TV, IPTV, video-on-demand, and home video/DVD, etc. Generally, we release our motion pictures into wide-theatrical exhibition initially in Korea, and then in overseas and ancillary markets.

The Group also invests into and produces Korean television dramas. In addition to our content business, we also own equity stakes in entertainment-related companies and film funds that can financially and strategically complement our existing core operations. SEGL is listed on the Catalist of the Singapore Exchange Securities Trading Limited under the ticker 40E.

Production Labels

SEGL owns a 100% equity interest in Studio Take Co., Ltd. (“Studio Take“) which produced STONE SKIPPING (2020) and THE BOX (2021). One of its films, A MAN OF REASON (2023), premiered in the US at the 42nd Hawaii International Film Festival. The film was also invited to the 47th Toronto International Film Festival, the largest film festival in North America, and the 55th Sitges Film Festival, one of the world’s top three genre film festivals. Produced by Studio Take, the Korean adaptation of the Taiwanese hit YOU ARE THE APPLE OF MY EYE premiered at the Korean theatres on 21 February 2025. The romance film remake originally premiered at the 29th Busan International Film Festival in October 2024. Studio Take shall also release an upcoming film, THE GUEST, which is at the post-production stage and scheduled to be released in the second half of 2025 or in 2026.

The Company owns a 20% equity interest in The Makers Studio Co. Ltd., which plans to produce and release four upcoming films, the first of which will be THE ISLAND OF THE GHOST’S WAIL, a comedy horror film.

Talent Representation

The Company holds an effective shareholding interest of 43.88% in Spackman Media Group Limited (“SMGL“). SMGL, a company incorporated in Hong Kong, together with its subsidiaries, is collectively one of the largest entertainment talent agencies in Korea in terms of the number of artists under management, including some of the top names in the Korean entertainment industry. SMGL operates its talent management business through renowned agencies such as MSteam Entertainment Co., Ltd., SBD Entertainment Inc., UAA&CO Inc. and Play Content Co., Ltd. Through these full-service talent agencies in Korea, SMGL represents and guides the professional careers of a leading roster of award-winning actors/actresses in the practice areas of motion pictures, television, commercial endorsements, and branded entertainment. SMGL leverages its unparalleled portfolio of artists as a platform to develop, produce, finance and own the highest quality of entertainment content projects, including theatrical motion pictures, variety shows and TV dramas. This platform also creates and derives opportunities for SMGL to make strategic investments in development stage businesses that can collaborate with SMGL artists. SMGL is an associated company of the Company. For more information, please visit spackmanmediagroup.com.

For more details, please visit spackmanentertainmentgroup.com.

Bybit Card Elevates Travel Experience: Premium Lounge Access with a Chance of First-Class Flights

DUBAI, UAE, Feb. 28, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is pleased to introduce new benefits for Bybit Card holders to upgrade their jetsetting lifestyle. Starting now, Bybit Card users can now access premium airport lounges worldwide through an exclusive partnership, elevating the travel experience for the crypto community.

The Bybit Card is also throwing in the chance to fly first class in a limited-time event. From now until Apr. 4, 2025, eligible users may sign up and spend $10 or more to qualify in the race for sky-high privileges. Prizes include first-class tickets valued at up to 10,000 USDT for 3 lucky winners, or 100 USDT for 10 more winners each month during the event.

Access Lounges Worldwide with the Bybit Card

This new benefit enables users to travel in style whether they are getting ready for a holiday, or finding comfort in transit. Access to over 250 global locations before take-off offers Bybit Card holders the freedom to escape the airport crowds and enjoy premium lounges at popular international destinations, including Singapore’s Changi Airport, the Dubai International Airport, Melbourne Airport, the Ezeiza International in Argentina, among other major aviation hubs.

All cardholders can easily redeem their reward points earned from regular spending for lounge access through the Rewards Mall, making premium travel experiences more accessible than ever.

The program also features special benefits for VIP users, who enjoy 50% off lounge access redemption rates. The rewards points are alternatives to auto-cashback, and users may toggle to points to unlock similar benefits.

“We are in the business of making lasting memories with the crypto community. The Bybit Card aims to provide unparalleled user experience and flexibility in how our customers choose to use their digital assets,” said Joan Han, Sales and Marketing Director at Bybit. “The addition of global lounge access represents another step in our mission to bridge the gap between cryptocurrency and everyday experiences.”

Bybit Card Elevates Travel Experience: Premium Lounge Access with a Chance of First-Class Flights
Bybit Card Elevates Travel Experience: Premium Lounge Access with a Chance of First-Class Flights

A Card for the High Flyers

The launch of this premium travel benefit comes as part of Bybit’s ongoing commitment to enhancing the utility and prestige of crypto in all aspects of life. Cardholders can now experience the same level of luxury traditionally associated with premier banking cards, while maintaining the flexibility and innovation of crypto payments.

With the Bybit Card, over a million users get to seamlessly off-ramp mainstream tokens, access cashback perks, while earning competitive APR on eligible digital asset balances.

For more information about Bybit Card rewards and how to get premium lounge access, users may visit www.bybit.com/cards/rewards. The lucky draw for first-class tickets will be conducted once a month on livestream, and users may find out more about their eligibility and the terms and conditions here.

#Bybit / #TheCryptoArk / #TheBybitCard

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For updates, please follow: Bybit’s Communities and Social Media

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Safeguarding Your Assets: ATFX’s Commitment to Trust and Security

HONG KONG, Feb. 28, 2025 /PRNewswire/ — ATFX, a leading CFD broker, has always placed client fund protection at the core of its operations. Recognizing the rise in cyberattacks targeting brokers, ATFX has implemented advanced security measures, including facial recognition technology for account registration. This innovation ensures a seamless yet secure verification process, allowing clients to authenticate their identities quickly while preventing unauthorized access.

To further reinforce its security framework, ATFX consistently upgrades its cybersecurity infrastructure to prevent data breaches and unauthorized access. By integrating cutting-edge security solutions and adhering to the highest international regulatory standards, ATFX enhances protection while delivering a secure and efficient trading environment.

In 2024, ATFX strengthened its asset security by partnering with Zodia Custody, a leading institution-first digital asset custodian backed by Standard Chartered, SBI Holdings, Northern Trust and National Australia Bank. This collaboration enhances security through cold storage and multi-signature wallet mechanisms, creating an impenetrable defense against potential cyber threats. Additionally, both ATFX and Zodia Custody maintain the highest regulatory standards, ensuring compliance and transparency while optimizing transaction efficiency for smoother deposit and withdrawal operations.

As fintech continues to evolve, integrating advanced security measures into financial services is essential. ATFX remains at the forefront of innovation, safeguarding client assets while delivering a seamless trading experience. Through continuous technological advancements and industry-leading security practices, ATFX empowers traders with confidence in an ever-evolving financial landscape.

About ATFX
ATFX is a leading global fintech broker with a local presence in 23 locations and licenses from regulatory authorities including the UK’s FCA, Australian ASIC, Cypriot CySEC, UAE’s SCA, Hong Kong SFC and South African FSCA. With a strong commitment to customer satisfaction, innovative technology, and strict regulatory compliance, ATFX provides exceptional trading experiences to clients worldwide.

For further information on ATFX, please visit ATFX website https://www.atfx.com.

‘AI godfather’ sounds the alarm on growing risks in the AI race


HANOI, VIETNAM – Media OutReach Newswire – 28 February 2025 – The rise of powerful artificial intelligence (AI) like DeepSeek is transforming the world at an unprecedented pace, sparking enthusiasm and deep concerns about its potential risks. On that subject, “AI godfather” Yoshua Bengio – Laureate of the 2024 VinFuture Grand Prize – highlighted the urgent need for national and global efforts to regulate AI and ensure equitable benefits for all.

“AI Godfather" and 2024 VinFuture Grand Prize Laureate Yoshua Bengio (left) warns global superpowers about the risks AI poses to humanity.
“AI Godfather” and 2024 VinFuture Grand Prize Laureate Yoshua Bengio (left) warns global superpowers about the risks AI poses to humanity.

Double-edged sword

Since the beginning of 2025, the rise of DeepSeek has been described as a “black swan” moment creating a game-changing shift in an AI landscape almost overnight. It is a wake-up call showing that powerful AI can be achieved without exorbitant costs, challenging the prevailing “money equals progress” model.

Regarding this, Yoshua Bengio, often regarded as “one of the godfathers of modern AI,” warned that its breakthrough in AI affordability could pose serious risks.

If open-weight AI models, like DeepSeek, are distributed completely, terrorists may exploit them for disinformation campaigns, cyberattacks, or even bioweapon development,” he stated in an interview with VinFuture Foundation. “This is a double-edged sword because while these systems become more available, cheaper, and more powerful, they also lower the barrier to misuse.”

Yoshua Bengio, a pioneer in neural networks and deep learning algorithms, has been recognized with numerous prestigious international awards, including the 2018 A.M. Turing Award, the 2024 VinFuture Grand Prize, and most recently, the 2025 Queen Elizabeth Prize for Engineering. He emphasized that AI is evolving toward greater autonomy, with systems capable of planning and acting in pursuit of a goal. “Today, AI already surpasses humans in certain domains. It can master hundreds of languages and pass PhD-level exams across multiple disciplines“, he explained.

Despite these current limitations in long-term planning abilities, major technology corporations have thrown billions of dollars into developing AI agents capable of autonomous decision-making over extended periods. While this promises efficiency gains, it raises concerns about large-scale job displacement.

Beyond economic shifts, a far more critical issue looms – the loss of human control over AI. In controlled experiments, some AI systems have even engaged in deceptive behavior to prevent being shut down – a troubling sign of self-preservation tendencies.

This is alarming because we don’t want machines that will compete with us,” he emphasized.

According to Bengio, while they are not yet intelligent enough to pose a major threat, this trajectory is concerning.

In a few years, they might be sufficiently smarter and we need to start paying attention before it is too late,” Bengio warned.

Coupled with technical risks, AI presents a profound threat to privacy and civil liberties. Recently, a comprehensive International AI Safety report, chaired by Yoshua Bengio and compiled by 96 experts from 30 countries and organizations (including the UN, EU, and OECD) to guide policymakers on AI safety, revealed the growing potential for AI misuse in malicious activities.

Bengio noted that AI’s ability to process vast amounts of data can empower individuals, corporations, or governments with unprecedented control. Given AI’s uncertain future, he shared that the way humans manage AIs in the future will be central to preventing this scenario. “We need to make sure that no single person, no single corporation, and no single government can have total power over super intelligent AI,” he emphasized.

Advances by the Chinese startup DeepSeek could further intensify the AI race among superpowers, raising a worrying development in a field dominated by the Silicon Valley and large Western tech companies in recent years.

The danger here is that in their race to outpace each other, safety issues might be overlooked. We can be all the victims of this race if we are not careful enough,” Bengio cautioned.

Moreover, the intensifying race is expected to drive profound environmental consequences, particularly in energy consumption. Major AI companies, pushed by the prospect of massive profits, are willing to absorb high energy costs. This surge in demand will inevitably drive-up energy prices across the board, including electricity, oil, and other resources, affecting not just tech firms but households and industries worldwide.

This is where unchecked market forces and national competition could lead to global losses. “That is why government intervention is crucial. Policymakers must negotiate agreements that cap energy consumption at sustainable levels. Otherwise, the forces of competition between companies will only accelerate AI expansion in ways that are not just unsustainable but potentially dangerous,” Bengio urged.

Bridging the AI divide

The godfather of AI has raised urgent calls to establish robust ethical frameworks and regulatory measures to ensure responsible development and deployment.

Currently, there is essentially no regulatory framework almost anywhere in the countries where these systems are being developed. I think the governments have a responsibility to at least require a kind of reporting to them,” he said.

Responsibility is another key aspect. In many countries, legal principles hold companies accountable for products that cause harm. However, when it comes to software, liability remains a grey area, according to Bengio. “Clarifying liability laws would be a simple but effective step. If companies knew they could face lawsuits for negligence, they would have stronger incentives to manage risks properly,” he asserted.

He also emphasized that it would require a concerted effort from individuals and institutions who recognize the existential risks, like catastrophic malicious use. Elsewhere, concerns over job security and future employment opportunities loom. “The timeline for this shift is uncertain, but we could see radical transformations within five to ten years,” Bengio predicted.

While some jobs will inevitably be replaced by automation, Bengio emphasized that not all professions are equally at risk. “Expanding digital and AI education is essential, but it will not be a universal solution. Not everyone can become an AI engineer,” he noted. Instead, roles that require emotional intelligence and human interaction, including healthcare professionals, therapists, and managers, are more likely to endure. Rather than individual adaptation, Bengio poses a larger question: Can AI deployment be deliberately shaped to minimize disruption?

Again, this is something that has to be done globally, which is very challenging. We should do it in a way that does not create radical disruptions in the social fabric,” he concluded.

Beyond national regulations, Bengio stressed the need for global coordination. He highlighted eventually, humans should aim for global agreements and treaties, similar to how we handle other scientific and technological risks. As AI rapidly reshapes industries, new divides in wealth, job displacement, or political power could deepen unless proactive measures are taken. Bengio warned that AI is currently concentrated in the hands of a few corporations and nations.

He took Vietnam, a country with a strong industrial sector, as an example. If widespread automation shifts production to AI-powered facilities in wealthier nations like the US, it could lead to significant job losses and economic hardship in countries dependent on manufacturing exports.

Therefore, Bengio suggested establishing global negotiations – a form of exchange in which countries developing advanced AI might ask other countries to refrain from creating potentially dangerous AI. In return, the wealth generated by these AI systems, like new technologies and medical advancements, should be shared globally.

Of course, we are very far from this, but we need to start those discussions at a global level,” he emphasized.

The first step toward bridging the AI divide is fostering collaboration between emerging economies and technologically advanced nations. Bengio highlighted the importance of initiatives like the VinFuture Prize, which draws global attention to scientific advancements in regions outside the traditional tech powerhouses.

A big prize like the VinFuture Prize can make leading scientists far more aware of what is happening in Vietnam and other developing countries,” he explained.

Countries such as Vietnam, India, and Brazil already possess strong talent pools and growing expertise in AI. By forming strategic partnerships with resource-rich nations like Canada and European countries, they can develop competitive AI projects on a global scale. Such collaborations, if carefully structured, could ensure a more equitable distribution of technological power, according to Bengio.

Moreover, Bengio stressed the importance of bridging the gap between academia and industry. “By recognizing and supporting breakthrough innovations, VinFuture Prize encourages deeper collaboration between scientists, industry leaders, and policymakers, as well as fosters global dialogue on responsible AI,” he said.

The VinFuture Foundation, established on International Human Solidarity Day on December 20th, 2020, is a non-profit organization co-founded by billionaire Mr. Pham Nhat Vuong and his wife, Mrs. Pham Thu Huong. The Foundation’s core activity is awarding the annual VinFuture Prize, which recognizes transformative scientific and technological innovations capable of making significant positive changes in the lives of millions of people worldwide.

The nomination period for the 2025 VinFuture Prize will close at 2:00 PM on April 17, 2025 (Vietnam time, GMT+7).

The VinFuture Prize consists of four prestigious awards presented each year. The most esteemed is the VinFuture Grand Prize, valued at US$3 million, making it one of the largest annual prizes globally. Additionally, there are three Special Prizes, each valued at US$500,000, specifically dedicated to honoring women innovators, innovators from developing countries, and innovators with outstanding achievements in emerging fields.

https://vinfutureprize.org/vinfuture-prize-nomination/

Hashtag: #VinFuture

The issuer is solely responsible for the content of this announcement.

iQIYI showcases strategic response to TV drama industry trends: short-form content and technological innovation drive growth

BEIJING, Feb. 28, 2025 /PRNewswire/ — iQIYI, China’s leading online entertainment platform, participated in the first China TV Drama Production Industry Conference and the 10th China International TV Drama Program Trade Fair in Shenzhen in last week. iQIYI Founder and CEO Yu GONG delivered a keynote speech at the conference, emphasizing the company’s “viewer-centric approach” in response to evolving consumption patterns. “Success in our industry goes beyond content length, cast influence, production budgets, or the latest AI and virtual production technologies,” Gong stated. “The most crucial aspect is respecting the creative process, valuing content creators, understanding audience preferences, managing resources efficiently, and leveraging innovation to deliver premium content. Ultimately, putting viewers at the center of everything we do is what matters most.”

Yu GONG, Founder and CEO of iQIYI
Yu GONG, Founder and CEO of iQIYI

Strategic Expansion of Mini-Drama Ecosystem

As the content and entertainment industry continues to transform, iQIYI shared content strategies that include serialized long-form dramas, premium short-form content, and industrialized mini-dramas, along with its technological innovations aimed at enhancing production capabilities.

During a keynote speech on emerging content formats, iQIYI Senior Vice President Haitao YANG outlined the company’s strategic initiatives in response to growing market demand for concise storytelling. Highlighting the expansion of its mini and short dramas ecosystem, Yang detailed two key programs – the “Thousand Mini-Dramas Initiative” and “Hundred Short-Dramas Initiative,” which are being implemented across two distinct content theaters.

The “Mini-Drama Theater” focuses on mobile-optimized vertical content of 1-3 minutes per episode, covering genres from romance to suspense while the “Short-Drama Theater” features horizontal format content of 5-20 minutes per episode, emphasizing premium period dramas and urban storylines.

Leveraging iQIYI’s established expertise in long-form video content production, the company has achieved breakthroughs in this segment, with its mini-drama portfolio now surpassing 10,000 titles and capturing 95% of the leading mini-drama content providers in the market. The company reached a significant milestone in December 2024 when the platform’s first mini-drama generated over RMB 1 million (US$0.14 million) in revenue-sharing income.

iQIYI has also revamped its Apps to improve users’ viewing experience recently. While iQIYI’s main app continues to focus on long-form video with membership-based revenue models, iQIYI Lite app has been strategically repositioned to primarily feature free mini-dramas supported by advertising. Recent data indicates the format’s growing popularity, with mini-drama viewing time on the main app now rivaling that of animation, kids’ content, and variety shows. On iQIYI Lite app, mini-dramas have secured the second position in viewership, surpassed only by traditional long-form dramas.

Virtual Production Technology Elevates Content Production

At the conference, iQIYI Vice President Liang ZHU highlighted the company’s cutting-edge advancements in virtual production technology, which have been actively implemented across its robust portfolio of long-form dramas, where iQIYI has secured the highest viewership market share in both Q4 and throughout the full year of 2024, according to data from Enlightent.

For example, the original drama “My Journey to You” achieved a remarkable 30% increase in production efficiency through virtual filming techniques, while “Fangs of Fortune” pioneered large-scale water surface reflection in virtual filming in China. With virtual production elements comprising 16% of its total production, “Fangs of Fortune” stands as one of the most technically sophisticated and extensive virtual productions in China to date.

Zhu explained how these innovations are becoming a mainstream trend in the industry, with leading content platforms and IP owners achieving significant improvements in both efficiency and quality through virtual production and reusable digital assets.

To stay at the forefront, iQIYI has made substantial infrastructure investments, including the recent completion of a 2,500-square-meter flagship virtual studio that meets world-class standards of excellence. Additionally, its self-developed IQ Stage virtual production platform integrates over 20 patented technologies, enabling sophisticated real-and-virtual integration effects that deliver exceptional visual experiences to global audiences.