Wizpresso was honored to participate in the recent Hong Kong Management Association (HKMA) Best Annual Reports Awards (BARA) Briefing Seminar. Our founder and CEO, Calvin Cheng, joined a panel discussion on “How Can AI Help with Financial and ESG Reporting?” alongside industry leaders, with the session moderated by Mr. David Ching of CFA Society Hong Kong. Wizpresso is also proud to serve as the AI & Data Sponsor for this year’s BARA Awards.
Key Takeaways from the Panel
- AI Adoption in Reporting: The panel highlighted steady progress in AI adoption for financial reporting in Hong Kong, with larger institutions leading the way. ESG reporting lags slightly due to regulatory complexity and data challenges, but momentum is building.
- Drivers and Challenges: Regulatory support, operational efficiency, and stakeholder demands are accelerating AI adoption. However, data quality, cybersecurity, skills gaps, and resource constraints remain key hurdles, especially for smaller organizations.
- Addressing Unstructured Data: Calvin Cheng shared Wizpresso’s approach to tackling unstructured ESG data using advanced natural language processing and document comprehension. Our solutions help standardize qualitative disclosures, extract data from complex tables, and ensure traceability for compliance.
- AI Tools in Practice: The discussion covered both general-purpose AI tools and specialized platforms for financial and ESG reporting. Specialized solutions offer greater compliance and automation, while general-purpose tools provide flexibility for document analysis and reporting.
- Looking Ahead: The panel discussed the emergence of autonomous AI agents capable of end-to-end data aggregation, real-time monitoring, and automated report generation. Transparency and traceability were emphasized as essential principles for responsible AI governance.
We extend our sincere thanks to the panelists—Fred Sheu (Microsoft Hong Kong), Julie Wong (Hysan Development), and moderator David Ching—for their valuable insights and leadership throughout the discussion.
Wizpresso is the AI and Data Sponsor of HKMA’s Best Annual Report Awards 2025. Wizpresso remains committed to supporting the HKMA’s members and advancing the use of AI to improve transparency, efficiency, and quality in corporate reporting.
About the HKMA Best Annual Reports Awards (BARA)
The Best Annual Reports Awards (BARA) is an annual competition organized by The Hong Kong Management Association (HKMA) since 1973. The Awards aim to encourage the publication of timely, accurate, informative, and well-presented annual reports for shareholders, stakeholders, employees, and other interested parties. Through a rigorous adjudication process, BARA recognizes and honors organizations that demonstrate excellence in corporate reporting, setting benchmarks for transparency, clarity, and effective communication.
BARA features categories for both general and non-profit making or charitable organizations, with distinctions including Gold, Silver, Bronze, and various sub-category awards. The judging criteria emphasize compliance with financial reporting standards, quality of ESG disclosures, clarity of presentation, and accessibility of information. By showcasing exemplary annual reports, the Awards foster best practices and inspire continuous improvement in corporate governance and stakeholder engagement across Hong Kong’s business community.
Learn more: https://www2.hkma.org.hk/bara-award/
Application link: https://awards.hkma.org.hk/bara/enrol.php?ver_type=E
About The Hong Kong Management Association (HKMA)
The Hong Kong Management Association (HKMA) is a non-profit professional organization dedicated to advancing management excellence in Hong Kong and the region. Established in 1960, HKMA has played a significant role in supporting the territory’s economic growth by providing high-quality management education, training, and professional development opportunities to the business community.
