Ant Group Unveils AI Technology For The Financial Industry
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One of China’s largest fintech companies, Ant Group has rolled out an AI-powered technology called the Large Language Mode (LLM). It is the same AI tool used to create ChatGPT.
The firm has also revealed a new Web3 technology aiming to expand in Hong Kong and other countries. The Chinese giant wants to improve its abilities in using AI language model to create content for the financial industry.
On Friday, the Hangzhou-based company revealed its new technology called “financial LLM” at a conference in Shanghai. It also showcased two apps powered by their AI technology.
Ant Group To Use The LLM Tool To Enhance Other Apps
Ant Group is using the new LLM app to enhance two applications. First, it created Zhixiaozhu, an app for finance experts, to support the firm in marketing, insurance, and investment research. Secondly, It upgraded the Zhixiaobao app for customers, which helps users in many aspects, including creating strategies for managing their assets.
According to the company, they are still working on Zhixiaozhu, while the improved Zhixiaobao will be accessible to users after it has been approved.
LLMs are fast learning technologies that can generate, predict, translate, summarize, and recognize contents with vast sets of data.
The entrance of Ant into the LLM world has increased the competition among the top companies in China. This has reduced the gap between the country and the Western world in creating new technologies similar to ChatGPT. The Chinese government also plans to assist LLMs by implementing a to regulate AI.
Alibaba, Tencent Holdings, Huawei, and Baidu have all launched their LLMs for several industries. Even with the large amount of money spent while building immense computer structures required to create new AI apps, they still manage to do so.
Ant Group Launches Web3 Infrastructure ZAN
In a conference meeting on Thursday, Eric Jing Xiandong, the chairman of Ant, said that LLM expansion will change a lot of commercial happenings. Ant also rolled out a Web3 brand known as ZAN during the conference, aiming at many overseas marketplaces, including Hong Kong.
Ant Group’s former chief technology officer, Zhang Hui, is leading this new project. It will provide a complete set of tools for blockchain app development for individual and institutional Web3 technology developers. Zan will also be targeting creators who want compliance and security products.
