Over the past decade, two technologies have been at the forefront of the digital revolution. The first is AI, which has seen global adoption, while the latter is the more contentious Web3, a decentralized blockchain protocol. This article will primarily focus on the latter.

What’s the carbon footprint cost of AI to our planet? The cost is heavy. It’s estimated that the training process of ChatGPT-4 has led to over 1,000 tons of CO² emissions. By 2030, it is projected that the AI industry will account for 3.5% of global carbon emissions.

This study examines the distributional effects of high housing costs in Hong Kong using disaggregated population data. We document that public housing shielded much of the population from rapidly rising private housing costs between 2006 and 2016. However, as private housing costs rose, public housing became increasingly misallocated.

In 2023, AI has generated over 100million songs, and it is estimated AI will take over 50% of the music market by 2030. AI technology has opened up a new era in music creation, allowing anyone to generate music through a few text commands, challenging the music industries. However, the record companies shouldn’t reject AI. Instead, they can seek new business models to reshape the industry with AI.

1. Introduction According to the World Economic Forum’s Global Risks Report (2024), three key climate issues have been identified as critical challenges facing humanity: extreme weather events, critical change to earth systems, and biodiversity loss and ecosystem collapse. The current warming of 1.44°C, compared to pre-industrial times, is already causing disruptive global economic impacts (NASA, […]

Technological and organizational change (T&O) is widely regarded as a key driver behind the decreasing employment share of routine jobs, which typically involve repetitive and prescribed tasks. However, the disappearance of routine jobs does not automatically mean workers in these roles will exit employment and suffer earnings losses—although this scenario often dominates the popular public debate. Even if their current positions are eliminated due to T&O, they may transition to other roles that align with and complement the changes brought about by T&O, either within the same company or at different organizations. Michele Battisti, Christian Dustmann, and Uta Schönberg (2023)

As an international financial center, Hong Kong has long played a significant role in global capital markets. However, in recent years, its stock market has faced a series of challenges, including declining market liquidity, a slowdown in the IPO market, and an outflow of foreign capital. Drawing on the latest data and academic research, we […]

Ningxia has emerged as a key wine production region in China, contributing nearly half of the country’s total output. The wineries here not only stimulate local economic growth but also lead in Environmental, Social, and Governance (ESG) initiatives, promoting sustainable agriculture, biodiversity, and cultural preservation.