Ping An Co-hosts Fintech Forum: AI and Digitization Reshaping Financial Services

Ping An Showcases AI-Driven Financial Innovation at Wuzhen Summit

Ping An Insurance, in collaboration with Renmin University of China and Nankai University, co-hosted a Fintech Forum at the 2024 World Internet Conference Wuzhen Summit. The event, themed "Fintech in the Digital Intelligence Era," brought together global experts to discuss the future of financial technology 1

1

2

Digitization as a Catalyst for Financial Industry Transformation

Richard Sheng, Board Secretary and Brand Director of Ping An, emphasized the pivotal role of digitization in reshaping the financial landscape. He highlighted how data has become a new production factor and computing power a new productive force, driving progress across industries 1

1

AI-Enhanced Credit Processes

Ping An demonstrated how AI is revolutionizing credit assessment. The company's Puhui division employs micro-expression technology to evaluate credit, enabling loan decisions within 30 minutes. This innovation significantly improves efficiency and accessibility for small and medium-sized enterprises 1

1

2

Risk Control Reimagined Through Digital Technology

The forum showcased how digital and blockchain technologies are enhancing risk management in finance. A notable example is Ping An P&C's use of digital ear tags for yaks in Tibet, extending insurance protection to remote herders and illustrating the potential for inclusive financial services 1

1

2

Customer Experience Transformation

Ping An Life's "1-1-1 Superfast Claim" service exemplifies the customer-centric approach enabled by AI. The system achieves 93% of life insurance policy underwriting within seconds and an average claim settlement time of 7 minutes. The Ping An Auto Owner app further demonstrates personalized services, with features like rapid dispatch of designated drivers and roadside assistance 1

1

2

Related Stories

Ping An Launches AI-Powered "EagleX (Global Version)" to Address Global Climate Challenges

Ping An Health Achieves WONCA Certifications and Pioneers Internet-Based Family Doctor Standards in China

WeBank and Oliver Wyman Report Unveils Global Digital Banking Trends

Bairong Inc. Reports Solid Growth in 2024 Annual Results, Highlighting AI-Driven Services

Cutting-Edge AI Capabilities

Xiao Jing, Chief Scientist at Ping An, presented the company's advancements in AI technology. Ping An has achieved significant breakthroughs in fundamental digital capabilities:

• Visual AI: Over 95% accuracy in vehicle damage assessment and 90% in medical image analysis
• Audio AI: 99% accuracy in voiceprint recognition
• Natural Language Processing: Globally top-ranked speech robots with over 90% intent recognition accuracy 1

  1

  2

  2

The "Ping An Brain" and Future Applications

The company's AI engine, dubbed the "Ping An Brain," powers various applications across the financial and healthcare sectors. These include digital humans for marketing, intelligent speech robots for customer service, and AI-driven risk management solutions 1

1

2

Global Perspectives on Fintech Development

The forum featured insights from prominent figures in academia and international organizations, including Lin Shangli of Renmin University, Chen Yulu of Nankai University, Wencai Zhang from the World Bank, and Mansi Kalra of JBA Risk Management, providing a comprehensive view of fintech's global impact 1

1

2