In the midst of a technological tidal wave, the financial industry is undergoing a智慧 transformation, with AGI (Artificial General Intelligence) making its entrance. Major players have already tasted the first fruits of this innovation, as evident from the trends observed on August 28, 2024. This shift is not just a domestic phenomenon but a global one, with the financial sector consistently leading AI investment worldwide.
For a long time, the financial industry has been the largest investor in AI technology, with banks alone accounting for over 10% of the global AI market. Undoubtedly, they have emerged as pioneers in AI implementation. In China, the first half of 2024 saw over 58% of large model procurement projects originating from the financial industry, reflecting a strong interest and commitment to AI technology.
The integration of AGI, capable of handling complex tasks across various domains, has become a focal point for discussions within and outside the industry. Major state-owned banks have completed their initial rounds of large model procurement and are now in the application development and pilot testing phase. However, the challenge for many other financial institutions lies in deciding whether to follow suit, how to adapt, and which cutting-edge products can set them apart in this competitive landscape.
The recently released report, AGI in Financial Sector Application Practice Insights, a joint effort by the China Academy of Information and Communications Technology (CAICT) and InfoQ Research Center, delves into how industry giants are leveraging AI to reshape their operations. From intelligent investment advice to risk management and personalized financial services, AI is unlocking new capabilities, making financial transactions smarter and more efficient.
Over a hundred companies, spanning traditional financial institutions, internet financial service providers, tech service firms, and financial tech companies, have embarked on the journey to explore and implement AGI in the financial sector. This diverse ecosystem comprises general-purpose large models, vertical financial industry models, tech services, fintech companies, cloud services, internet financial services, and traditional financial services.
While traditional institutions, predominantly large state-owned banks, have adopted a more cautious approach, internet financial service providers, tech firms, and fintech companies, with their advanced technology and innovative spirit, are driving the market forward. They are crafting solutions for AGI integration in financial business scenarios, contributing significantly to the industry’s growth.
The AGI market in finance is expected to experience exponential growth. InfoQ Research Center forecasts a market size of 3.8 billion yuan in 2024, accounting for 13.1% of the overall AGI market. This represents a growth rate of over seven times compared to 2023, indicating the immense potential and promising outlook for the financial AGI market. By 2030, it is projected to reach 887.3 billion yuan, maintaining a growth rate of over 100% for several consecutive years.
Both suppliers, such as large model development companies, and procurers, mainly financial institutions, will be swept up in this market surge, participating in a landscape ripe with opportunities and challenges. This is not merely a technological experiment for large corporations but a transformative movement in the financial industry’s productivity, driven by technological advancements.
Banks and fintech companies are at the forefront of this revolution. With their financial strength, resources, and skilled teams, they are continuously exploring and innovating in the金融科技 domain. Banks, in particular, have demonstrated remarkable strength and achievements in AGI adoption, despite needing to consider regulatory and security aspects. Fintech companies, with their tech-native nature and innovative mindset, are equally instrumental in introducing new solutions and products, enhancing efficiency for financial institutions.
Three primary strategies have emerged as金融机构 adopt large models. Some choose to develop models in-house, tailoring them to specific business needs and technological capabilities. Others opt for fine-tuning existing models for targeted improvements, while some leverage third-party model interfaces for swift deployment. These strategies showcase the financial sector’s adaptability, innovation, and proactive approach to AI integration.
As the financial industry continues to evolve, AGI is poised to reshape the landscape, driving productivity, efficiency, and innovation. With giants leading the charge and a multitude of players exploring various strategies, the future of finance is set to be more intelligent and agile than ever before.
【source】https://mp.weixin.qq.com/s/ypBxq5dLGHx4kJWZM-zZFQ
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