Preeti
The rapid advancement of new technologies, particularly AI, is transforming China’s financial sector, with a focus on overcoming regulatory and ethical challenges. Policy documents have been issued to support AI-related financial services in manufacturing, emphasizing innovation-driven development strategies. A technology-industry-finance integration initiative has facilitated over $114 billion in corporate financing over the past three years.
China’s fintech sector, especially in mobile payments, is a global leader, with AI technology, particularly large language models (LLMs), reshaping the financial industry. AI applications in finance include intelligent risk control, robot investment advisors, intelligent customer service, and AI-assisted investment research. Despite progress, the regulatory framework and ethical standards for AI applications in finance are still developing.
China and the US are at the forefront of AI development, with potential for collaboration in the financial sector. Global cooperation is essential in the AI era, with opportunities for mutual progress and innovation through Sino-US collaboration. The future of AI in finance holds promise for responsible AI development and a thriving ecosystem.
Overall, the integration of AI technologies in China’s financial sector is driving significant changes, with a focus on innovation, collaboration, and responsible development in the global AI landscape.
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Source link: http://www.ecns.cn/business/2024-07-03/detail-ihecxmxh6562339.shtml
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