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Ant Financial adopts AI to avoid spikes employee needs

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Tinuku ~ Ant Financial builds artificial intelligence to create a futuristic system in the financial business. Ant Financial, one of the affiliate divisions of fintech Alibaba Group, has been serving mobile payments Alipay says implementing artificial intelligence is an integral part of business growth, security and product optimization.

Tinuku Ant Financial adopts AI to avoid spikes employee needs

Ant Financial's vice president and data scientist, Qi Yuan, said about the breakthrough quantum technology in a statement about the future of the company and the efficiency to be done.

Technology company headquartered in Xihu, Ant Financial, will adopt artificial Intelligence (AI) to build a quantum system in financial services. The US $ 60 billion company will apply AI technology to all operations including loan systems, wealth management, insurance services and rural finance.

"At Ant Financial, we are using AI to solve problems," said Yuan in a statement in Hangzhou.

Technology giant Alibaba Group has invested in machine learning technology and natural language processing. Companies are already using AI algorithms on the Taobao and Tmall platforms to identify counterfeit products. Ant Financial launched its AI-based image recognition system last month to help investigate vehicle insurance claims faster and better.

In a demonstration it made a very striking difference. The Ant Financial algorithm only performs within 6 seconds to assess damage to 12 different vehicle damage claims, whereas humans take more than 6 minutes to over the same claims.

"Algorithm is equivalent to an employee with 10 years experience. We also use it to detect fraud," Yuan said.

Ant Financial currently recruits more than 6,000 human employees and has grown rapidly, especially in customer service. Companies do various ways to suppress the needs of employees who will be greater in the future.

"With this growth rate, we need tens of thousands of people to serve customers and this is impossible. When I moved to Ant two years ago, I was the only one working at AI. In two years, this operation has grown to 300 people ," Yuan said.

"More and more AI apps in China, many talented people here. AI in the next 10 years will be a major force, not only in China but also around the world," Yuan said.

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