Ant Group’s artificial intelligence (AI) products are now legally available to the general public, following approval from Chinese regulators. The company, which arose from Beijing’s three-year regulatory purge, debuted an AI model tailored to the finance industry in September. Two of the company’s apps, Zhixiaobao and Zhixiaozhu, are now being tested on its wealth management and insurance platforms.
With more than a billion customers globally, Ant is the largest fintech company in China. Its entry into the financial AI space is noteworthy. The clearance follows the regulatory crackdown on the fintech company in 2020, which was largely sparked by the unrestrained expansion of its banking services. The Chinese government had only authorised 11 other companies to release their AI solutions to the general market.
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