Keith Li King-wah’s business once thrived during the 2010s. In a crowded field of more than 100 rivals, his programming consultancy, Innopage, easily secured contracts worth hundreds of thousands of Hong Kong dollars to develop basic digital tools, such as a mortgage calculator, for corporations and government agencies. But those easy-money days are gone. The rapid rise of generative artificial intelligence (AI) has transformed high-value coding into widely accessible and automated services,...