Beijing News Shell Finance News (Reporter Pan Yichun) On October 19, at the "AI + Finance Empowering Digital Finance New Chapter" forum at the 2024 Financial Street Forum Annual Meeting, Shang Fulin, Director of the Economic Committee of the 13th National Committee of the Chinese People's Political Consultative Conference and former Chairman of the China Banking Regulatory Commission Said that finance is an important area for the integrated development of artificial intelligence. According to the International Data Corporation's forecast, by 2027, the global financial industry's expenditure on artificial intelligence will reach US$97 billion, with a compound annual growth rate of 29%, making it one of the fastest growing industries. Against this background, the financial technology field is bound to usher in a new round of technological revolution.
Shang Fulin believes that artificial intelligence will have a profound impact on the operations of the financial industry. The application of artificial intelligence in the financial field has three core elements, among which data is the key, technology is the core, and algorithms are the cornerstone. On the one hand, finance may be the biggest beneficiary of artificial intelligence technology. Artificial intelligence can empower financial services by improving efficiency, providing personalized services, and enhancing risk management capabilities. On the other hand, artificial intelligence empowering finance also faces some challenges. For example, artificial intelligence applications need to process a large amount of sensitive personal and financial data, which increases Reduce the risk of cyber attacks and the possibility of data leakage.
Therefore, Shang Fulin put forward four suggestions for artificial intelligence to empower digital finance, including widespread application and deepening integration; strengthening cooperation to jointly build an ecosystem; promoting digital resource sharing, improving the level of digitalization, and guarding the bottom line and ensuring security. "On the one hand, strengthen the construction of security standards. Continuously improve the security standard system of financial data, strengthen the construction of legal and regulatory systems, and provide legal protection for financial data security and privacy protection. On the other hand, improve risk prevention capabilities. Establish risk management through artificial intelligence technology Monitoring and early warning mechanisms to detect and deal with potential risks in a timely manner.”