HONG KONG, 17 March 2026 – PwC has released a new report highlighting how financial institutions in Hong Kong and the Chinese Mainland are leveraging artificial intelligence (AI) primarily for strategic transformation rather than immediate efficiency gains.
The survey of 201 financial services professionals and 20 in-depth interviews conducted between October 2025 and January 2026 found that 57% of respondents use AI to augment employees’ roles. While banking, insurance, and asset & wealth management firms report benefits such as enhanced compliance, risk mitigation, and improved customer service, 61% allocate 10% or less of their technology budgets to AI, leaving a 30–40% gap compared to global peers.
Key barriers to wider AI adoption include talent shortages, legacy processes, and data availability. Only 29% of respondents report having an “AI-first” culture, while 90% rely on internal proprietary data due to security and privacy concerns. PwC noted that sustained investment and cultural transformation are critical for financial institutions to fully capture AI’s strategic potential.
