Ant Group reveals financial AI model

Ant Group unveiled an artificial intelligence model specifically for the financial sector on Friday and began testing consumer and professional applications for the product, entering a fierce race to deploy the technology in highly regulated China.

The company’s foray into financial AI is notable as the company founded by billionaire Jack Ma is China’s largest fintech company, with more than 1 billion users worldwide for its Alipay payment app.

The disclosure follows announcements from tech giants Tencent and Xiaomi on Thursday and Ant Group affiliate Alibaba in April. As of July in China, more than 130 companies had introduced “large language models,” of the type that powers OpenAI’s ChatGPT generative AI app, according to Tencent.

The Zhixiaobao 2.0 app, designed to provide financial advice to consumers, can match the average financial professional in terms of market analysis and reasoning ability, Ant said. It will be available as soon as it receives regulatory approval.

Unlike other countries, China requires companies to submit security assessments and receive authorization before releasing AI products to the public.

Another model, Zhixiaozhu 1.0, can perform investment analysis and information extraction, among other business tasks, for financial professionals, Ant said.

Source: Terra

Rose

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