Ant Group, a financial technology company specializing in financial technologies, has unveiled a new artificial intelligence model for use in its financial applications and services.
This recent announcement follows a series of consecutive announcements by Chinese companies in the field of artificial intelligence after obtaining approvals from Chinese regulatory authorities, which impose strict restrictions on companies developing AI models.
Unlike practices in other countries, the Chinese government requires companies to provide security assessments before launching AI products to the public.
The Chinese company stated that it is currently conducting closed tests for two applications based on its AI financial model.
The first application is called “Zhixiaobao 2.0” and is designed to provide financial advice to customers, the company claims that it can rival regular financial analysts in market analysis and decision-making capabilities, it will be made available once it receives regulatory approval.
The second application, “Zhixiaozhu 1.0,” is aimed at financial and business professionals, it can perform various tasks related to financial markets, including investment analysis and data extraction, among others.
Ant Group, founded in 2014 and formerly affiliated with the Chinese Alibaba Group, is considered one of the world’s largest financial technology companies, the company offers a wide range of financial and technological services, including electronic payments, e-commerce, wealth management, consumer loans, blockchain technology, and insurance.
Ant Group has established a strong presence in the Chinese market due to the popularity of its innovative products and services, it boasts a massive customer base in China and beyond, with over 1.3 billion customers.
