The company is using these new technologies to strengthen its presence in the financial sector.
Ant Group, the Chinese fintech giant, has unveiled a finance-focused artificial intelligence (AI) model and a new Web3 brand targeting Hong Kong and overseas markets, as it boosts its capabilities in generative artificial intelligence (AI) for the financial services sector. The model, called “Ant AI for Finance,” is designed to help financial institutions improve their operations, risk management, and customer service.
Ant AI for Finance is a large language model (LLM) that has been trained on a massive dataset of financial data. This data includes financial statements, news articles, and social media posts. The model can be used to perform a variety of tasks, such as:
- Analysing financial statements to identify risks and opportunities
- Generating investment ideas
- Determining the creditworthiness of borrowers
- Personalising financial products and services
- Responding to customer queries
Ant’s financial LLM is still under development, but it has already been used by Ant Group to improve its own operations. For example, the model has been used to identify fraudulent transactions and to improve the risk management of its lending products. It was aimed as an upgrade to Zhixiaobao, the firm’s consumer-facing “intelligent financial assistant” for wealth management and insurance. The idea was to build technology that helps users in various scenarios including generating asset-management plans. It also helped build Zhi Xiao Zhu, an application that can assist finance practitioners in areas including investment research, insurance and marketing.
Wang Xiaohang, Vice President at Ant said “We have built computing power at a level of 10,000 GPUs [graphics processing units]. On this basis, Ant’s entire financial business has quickly switched to the LLM paradigm.”
Ant Group plans to make Ant AI for Finance available to other financial institutions. The company believes that the model can help financial institutions to improve their efficiency, profitability, and customer satisfaction.
More about Ant AI for Finance:
- The model is trained on a dataset of over 100 trillion words. This dataset includes financial statements, news articles, and social media posts.
- The model can be used to perform a variety of tasks, such as analysing financial statements, generating investment ideas, determining the creditworthiness of borrowers, personalising financial products and services, and responding to customer queries.
- Ant AI for Finance is still under development, but it has already been used by Ant Group to improve its own operations.
- Ant Group plans to make Ant AI for Finance available to other financial institutions.
The development of Ant AI for Finance is a significant development in the field of financial technology. The model has the potential to revolutionise the way financial institutions operate. It can help them to improve their efficiency, profitability, and customer satisfaction.
