Ping An Set to Develop National Open Innovation Platform For Next Generation AI in Consumer Puhui Finance

Ping An Insurance Group announced on Thursday it was selected to develop the national Open Innovation For Next Generation Artificial Intelligence. The company reported that the announcement was made at the World Artifical Intelligence Conference 2019 in Shanghai and Ping An is claimed to be the only financial service companies among 10 selected institutions that were awarded by the Ministry of Science and Technology to develop the platform.

“Ping An OneConnect will use Ping An’s rich experience in the personal financial services industry to establish an open platform to help provide solutions at national level to fulfill identified needs in the consumer Puhui Finance sector using Ping An OneConnect’s unique “technology”+ “business”, dual empowering model.”

Ping An also reported that the platform is aiming to focus on the needs of various financial institutions in the sector and help them build standard services and risk management modules to better serve target customers. Speaking about the platform, Jessica Tan, Group Co-CEO of Ping An, stated,

“As a comprehensive financial enterprise established for 31 years, Ping An has cultivated a number of innovative technologies and achievements in recent years under its “finance + technology” and “finance + ecosystems” strategies, which are based on three core technologies of AI, blockchain and cloud. Ping An has the ability to promote the development of the Puhui Finance sector.”

Ping An went on to add that there are now 15 companies on the National Open Innovation Platform, which includes Baidu, Alibaba, and Tencent. The nine other companies that are selected in the latest batch will be leading on development topics such as Underlying Software and Hardware (Huawei Technologies Co. Ltd.), Smart Residence (‎Beijing Xiaomi Mobile Software Co., Ltd.) and Image and Vision Computing (Shanghai Yitu Network Technology Co., Ltd.).

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