Economic Observer Network reporter Wang Qing In the process of using new technologies to empower finance, artificial intelligence technology plays an important role in optimizing financial services, promoting innovation, and supporting the industry to improve quality and efficiency.
On September 2, at the 2022 World Artificial Intelligence Conference “AI Gathering Financial Digitization Forum”, many participants said that with the continuous application of artificial intelligence in the process of financial digital transformation, AI technology will play an important role in the financial industry. Influence is being penetrated by “outside” and “inside”.
Full coverage of financial digitalization practice
At present, China’s artificial intelligence technology is in a period of rapid development. According to the data of Wisdom Buds, up to now, the total number of patent applications in the field of artificial intelligence core technology has exceeded 1.33 million. Among them, China, the United States, Japan, South Korea and Germany accounted for more than 90.5% of the patent applications. China leads the world in this field, with nearly 750,000 patent applications, accounting for about 57% of the world‘s total.
Comparing China and the United States, China’s patent application growth rate in the field of artificial intelligence core technology has always been higher than that of the United States from 2001 to 2020, and has remained above 30% for a long time.
As a data-intensive and technology-driven industry, the financial industry has become the most in-depth application of artificial intelligence technology and the most urgent field of digitization in recent years. At the same time, financial digitization will also become an important choice for promoting financial innovation and development, and provide a development path for promoting financial transformation and upgrading.
At the meeting, Liu Xinyi, deputy secretary of the party committee, director and president of Shanghai International Group, said that in recent years, information technology represented by artificial intelligence, big data, and cloud computing has accelerated its application in the financial field, and has been continuously integrated with the financial industry to drive financial innovation. A powerful engine of development. To sum up, it mainly presents three characteristics: the practice of financial digitalization has basically penetrated into the financial field, the financial industry pays more attention to the absorption and training of scientific and technological talents, and the effect of financial technology agglomeration is more prominent.
“We believe that in the context of the new round of technological revolution and industrial transformation, in order to achieve high-quality digital transformation in the financial industry, perseverance in at least four dimensions is required.” Liu Xinyi analyzed in detail, one is to insist on expanding the breadth of financial services, Create more ecological scenarios for digital applications, provide multi-level, wide coverage, personalized, intelligent and efficient financial services, and allocate more financial resources to the key areas and weak links of financial development. Secondly, insist on strengthening the application of digital technology, focusing on the underlying technologies such as theory, algorithm, operating system, and innovative applications in the field of financial services, starting from real financial scenarios, deeply understanding the operation mechanism, and doing research and tackling key problems according to the needs of the industry , to enhance the advanced nature of the underlying technology and the effectiveness of the application technology.
At the same time, adhere to the standards for promoting financial digitalization, and through the formulation of standards, promote the development of standardized digitalization in the financial industry, and continuously improve the quality of digital transformation. In addition, we insist on consolidating the security protection of data resources, build long-term security protection mechanisms for the storage of massive data, personal information protection, etc., and strictly prevent the leakage, tampering and improper use of financial data sources.
Fintech continues to promote the digital transformation of financial institutions. The core technology layer determines the pattern of the Fintech industry. The traditional financial industry is urgently facing a digital upgrade. At the same time, under the trend of financial digitization, the financial fraud industry is increasing exponentially year by year, and traditional supervision methods are no longer sufficient to deal with increasingly complex financial risks.
Jiang Changjun, academician of the Chinese Academy of Engineering, said at the meeting that in order to correctly deal with the risks of digital transformation and allow financial enterprises to truly enjoy the benefits brought by digital transformation, it is necessary to innovate from the source, and to combine aggregation strategies and feedback mechanisms. Learn the analysis model and online financial transaction detection technology, continuously improve the real-time performance of the risk control platform, and enhance the high-concurrency technology and capabilities, so as to resolve the identification of identity theft and transaction fraud in financial transactions, improve the performance and stability of financial fraud intelligent identification, and ensure Financial transaction security.
Multi-field application landing
In fact, in recent years, the application of artificial intelligence in the financial field is constantly innovating.
Xie Minqi, vice president of Bingjian Technology, took the digitization of the banking industry as an example. Transformation is imperative. At the same time, the transformation of the domestic banking industry has problems such as unclear strategic planning, weak big data support capabilities, weak talent, and lack of financial service scenarios. Advanced AI technologies such as federated learning, natural language processing, and knowledge graphs will help banks’ digital transformation. .
“However, technological leadership is not only about algorithms, but also about business understanding. It is about applying technology to corresponding business scenarios. In the post-epidemic era, banks are constantly exploring applications such as supply chain finance, technology lending, and scenario lending. Find a way to break through the financial situation for small and micro enterprises.” Xie Minqi said.
In this context, technology companies are developing corresponding models and solutions based on AI technology, playing an active and important role in the development of small and micro finance and the digital transformation of banks.
At the same time, financial technology and insurance technology have begun to change the industry from the “outside” and “inside”. Wei Jiaohua, deputy general manager of CPIC, said in his speech that it is very likely to become a subversive change that can be traced back to the source in the future.
Wei Jiaohua said that for fields that can be fully digitized, the penetration of artificial intelligence will be unstoppable, simple and repetitive work will be replaced, and inefficient and complex work will be optimized. More and more insurance companies are beginning to explore the application of big data, Internet of Things, blockchain, and artificial intelligence in products and services. In the future, “Internet insurance” will focus on decentralization, fragmentation, scenario-based, and disintermediation. , reconstruct the insurance application experience, service model and claims operation process.
Taking auto insurance as an example, with big data mastering driving and environmental data, the Internet allows insurance companies to perceive and predict risks in real time, individual prediction models replace historical data models, identification technologies subvert customer experience, and machine learning subverts technology, sales, etc. Work, from blockchain and artificial intelligence to providing SaaS-based shared services, a series of intelligent technologies and services have transformed insurance companies from original risk takers to risk interveners, fully realizing intelligent interaction, intelligent entry, intelligent operation and Knowledge governance.
In addition, the digital transformation and upgrading of finance is inseparable from the application of digital software products. From the perspective of the industry, the application of artificial intelligence, cloud services and other technologies must first be “grounded”, meet the actual needs of enterprises in production or life services, and finally land in production or service scenarios.
For example, during the outbreak of the novel coronavirus pneumonia, enterprises need to temporarily set up emergency project teams to use big data and AI for data collection and analysis, which requires huge computing power. The person in charge of Baofu Technology said that from the procurement and construction of the computer room to the final delivery, it will take 60 days at the shortest to be put into use. By connecting to the public network cloud computing, it can be put into use in just a few hours, and the computing power can be expanded almost infinitely. When the business shrinks, the computing power can be released in time, saving costs for enterprises.Return to Sohu, see more
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