Biz / Tech

Shanghai enhances AI for practical uses in data exchange

Ding Yining
With the INCLUSION Conference on the Bund being held, Shanghai firms leverage data exchange to maximize AI potential for practical market applications.
Ding Yining

Shanghai is seeking to deepen its role to facilitate data exchange and cross-disciplinary collaboration, as industry watchers and executives point to the crucial role of data and digital technologies at the INCLUSION Conference on the Bund.

The total economic benefits of generative AI amount to US$6.1 trillion to US$7.9 trillion annually, according to a latest McKinsey's estimate, with increases in productivity when technology is applied across knowledge workers' activities.

To fully realize the value of generative AI content, and for the role of data to be fully leveraged, new initiatives have been put forward by different parties.

Shanghai enhances AI for practical uses in data exchange
Dong Jun / SHINE

Pet related service and insurance products have been empowered by smart technology.

In the field of financial service and insurance, digital solutions have been adopted at Ant Group's insurance sector, where Zhong An Insurance's pet insurance policy holders can easily identify pet hospitals nearby.

By setting up an easily accessible standard module for insurers and policy holders, it allows easier insurance claim processes through smart phone applications.

Shanghai enhances AI for practical uses in data exchange
Ti Gong

On Friday, Ant Group said it's own financial service-tailored smart assistant, based on large language model, will be soon be rolled out after gaining regulatory approval, joining other industry counterparts such as Tencent and JD to unveil industry-specific LLMs.

The new robotic assistant will be more responsive for customer service and investment recommendations.

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