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Ant Group launches AI model for financial apps

Ant Group launches AI model for financial apps

Ant Group announced that it has begun consumer and professional app testing for a finance-specific artificial intelligence (AI) model at the Inclusion Conference on the Bund in Shanghai this week.

A press release shared by the group states that the AI model had already started closed tests of the apps on the company’s wealth management and insurance platforms.

The apps are called Zhixiaozhu 1.0 and Zhixiaozhu 2.0; 1.0 conducts investment analysis and information extraction and other business tasks for finance professionals, while the 2.0 is designed to give consumers financial tips inline with the average financial professional’s market analysis and reasoning capability. The Zhixiaozhu 2.0 app will be available for users upon receiving regulatory approval, while Zhixiaozhu 1.0 will undergo further tests.

Also announced in the release is the Group's move to open source its AI-powered coding platform CodeFuse for the developer community, while also making the financial-specific AI task benchmark Fin-Eval available to the public.

China has significantly tightened up regulation of the AI space recently with an AI licensing regime, in efforts to strike a balance between encouraging AI tech development, and ensuring content remains controlled.

A spate of AI technology releases, specifically generative AI, have begun pouring out of China, as heavyweights including Baidu Inc and Tencent up the ante in the race to dominate the country’s AI scene.

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