Ant Group Introduces AI Tool for Financial Services
Ant Group Co. has introduced an innovative artificial intelligence (AI) tool designed for wealth management and insurance services, marking its entry into the evolving AI race.
The fintech company, supported by Jack Ma, has developed a comprehensive financial language model that will drive two new applications. The first, Zhixiaobao, provides answers to customer queries, while the second, Zhixiaozhu, acts as an aide for financial experts. The announcement was made at the Inclusion Conference held in Shanghai.
This move by Ant Group Co. comes as tech giants like Tencent Holdings Ltd. and Baidu Inc. also strive to develop AI solutions similar to ChatGPT. Following China's endorsement of the initial generative AI services for public deployment in August, the sector is observing significant growth.
Furthermore, Ant Group's AI ambitions don't stop there. The company envisions leveraging the expansive language model for an array of functions such as market evaluation, guiding investors, elucidating insurance offerings, and processing claims. The system's training utilized vast datasets, incorporating hundreds of billions of tokens from Chinese financial documents and over a trillion tokens from textual datasets.
Additionally, Ant Group is offering its AI-driven coding platform, CodeFuse, to the developer community.
Currently, Ant Group's Zhixiaobao 2.0 is in its final testing phase and is anticipated to be made public once it secures regulatory approval. Meanwhile, its Zhixiaozhu application is still under examination.