Shanghai hosts flagship financial technology event
Shanghai has pledged continuous support for financial technologies as industry gurus, AI experts, and leading scholars shed light on the latest tech advancements and how they could benefit urban governance and economic development at the 2023 INCLUSION·Conference on the Bund.
The flagship fintech event in the city began on Thursday at the Huangpu World Expo Park, aiming to advance the exploration of financial technology and cutting-edge science.
Shanghai Deputy Mayor Xie Dong said at the opening speech during the keynote forum that Shanghai will continue to accelerate digital transformation and upgrades in the financial sector to become a demonstration city for fintech applications.
With a wide range of financial technology enterprises and unicorns, Shanghai prepared to carry out additional pilot schemes to fully unleash new development momentum.
It also supported all forms of cooperation among domestic and foreign research institutes, financial institutions, fintech players, and technology providers, as well as joint research efforts.
"I hope guest speakers from home and abroad bring new ideas and enlightenment and contribute to Shanghai's efforts to become a financial and scientific innovation center," Xie added.
Members of the organizing committee for the conference include the Shanghai United Media Group, Tsinghua University, Fudan University, Shanghai Jiao Tong University, Tongji University, Zhejiang University, Shanghai Bund Investment Group, and Ant Group.
More than two dozen speakers covered three topics during the keynote forum: "Preparing for the New Technological Revolution", "Navigating Global Industrial Innovation", and "Building a Sustainable Future."
The alignment of AI, meaning creating systems that would answer the needs and expectations of people, was crucial for privacy and safety concerns about AI, said He Jifeng, an academic from the Chinese Academy of Sciences (CAS).
Large language models' content-generating abilities made it even more difficult to protect privacy with the collection and use of personal information without consent, he said.
Zhang Renhe, an academic of the CAS and vice-president of Fudan University, said that researchers have shown strong enthusiasm for how AI could power scientific research.
He called for collaborative efforts from different organizations on large language models in the scientific research field, which is still in its early stage in China.
Michael Irwin Jordan, a professor from the University of California, Berkeley, and a leading expert in machine learning, pointed to the uncertainty of large language models.
He said that generative Al systems have very little notion of what it means to actually know something, and also don't have the ability to convey how sure they are.
He said that in this shortcoming, Al systems are very different from humans, who deal with uncertainty remarkably well, even if not perfectly.