Science and Technology News July 15th, the media future technology summit was held in Beijing. Nie Fanqi, founder and CEO of Hong Kong Financial Data Technology Co., Ltd. (FDT), attended the "AI+ Finance" special session and delivered a keynote speech.
China's "AI+ Finance" is bigger than the US
In 2016, China’s personal wealth is second only to the United States. China has a large volume and the average wealth is much lower than that of the United States. Nie Fanqi believes that AI has a bigger prospect in China's financial market than the United States.
He introduced that financial services, foreign JP Morgan Chase 2017 budget of 9 billion US dollars, HSBC has spent 2.4 billion US dollars in face recognition, blockchain, all aspects of financial technology applications. FDT mainly cooperates with brokers in China. There are less than 5 research and development teams in China's independent brokerages, and there are more than 100 brokers, but there are less than 5 independent research and development. It is best to really invest in Huatai Securities, which cost 300 million last year.
Nie Fanqi introduced that FDT hopes to help financial institutions achieve asset management upgrades. This is a three-step process. First, it helps retail institutions to become “passive investors†by helping investors manage their investors' appropriateness. Second, through model cognition, financial institutions are identified as not suitable for their own investment. The “passive investorâ€; third, recommending to the passive investors the financial products that he is suitable for.
Intelligent investor education accelerates “de-sellingâ€
The first scenario FDT is targeting is investor education.
China's securities market is dominated by small and medium-sized investors, with insufficient risk awareness and insufficient investment experience. Nie Fanqi believes that the participation of 100 million investors in the investment market will cause great trouble. He recalled that Buffett talked about the lack of education for Chinese financial investors and the changes in investment. It took the United States 70 years to complete investor education. This is a long market. He believes that the market will lead people to make the right investment for a long time. The cost of retailing through the market is too great. The painful lesson of 2015, the painful lesson of 2008 is the lessons of the past. Intelligent investor education will speed up the process of decentralization.
He admits that doing FDT three years ago is optimistic that China must go to retail. How to go to the retail? It is to do investor education. How to do investor education, the team began a special study. On July 1, the “Measures for the Appropriateness of Securities and Futures Investors†issued by the China Securities Regulatory Commission officially began to be implemented. This is earlier than FDT's estimate, and FDT's investor education program has been commercialized.
Expert Advisors can make hedge fund managers unemployed
In addition to investor education, FDT's other two businesses are intelligent trading and smart asset management. Nie Fanqi himself is a fund manager. He revealed that he is currently discussing with Watson’s chief artificial intelligence scientist. If he can make an intelligent transaction, many hedge fund managers will be unemployed.
Nowadays, smart investment on the market generally uses questionnaires to identify users' risk preferences. FDT's approach is different, by analyzing the behavior and benefits of the user's securities selection to determine the customer's risk appetite and whether it is suitable for investment.
Where is the user's money invested? FDT's ideas are also different from those of ordinary securities institutions. Instead of selecting the investment target based on the value of the ready-made risks and benefits given by the fund, it is a step forward – analyzing the fund manager’s operational behavior to judge his risks and benefits, and judging the investment from a more fundamental perspective. Risks and benefits.
Nie Fanqi introduced that at present, FDT's technology research and development is in cooperation with many universities. FDT has research institutions in four universities, including Oxford University, Columbia University, Tsinghua University, and Nanjing University. These financial research centers are doing frontier research in AI finance. At the same time, FDT also cooperates with many universities, including Sun Yat-sen University, Shanghai Finance, Southwestern Finance and so on.
The following is a live record:
Yan Wei: Thank you! Thank you for the wonderful sharing of Mr. Lai. It is true that IBM cognitive technology is leading in the industry, which not only enhances the operational capabilities of the financial industry, but also enhances the user experience. At present, there are many investment companies in the industry. How to make a user portrait based on the relationship between the user's real trading behavior data and the final rate of return? Below is the founder and CEO of Hong Kong Financial Data Technology Co., Ltd. (FDT) Nie Fanqi, please!
Nie Fanqi: Good morning to all of you! Thank you, the media for giving me the opportunity to talk about what FDT is doing at AI Finance. I agree with Ji's opinion that AI has many applications. We also believe that AI is the most likely place to break through in the financial field. It is very simple. AI is closer to the data than the money. For startups, AI Finance has many challenges because of it. Financial data is very “secret†and unlike other data that can be obtained for testing, this is also a challenge.
AI has three promising applications in China's financial market, AI smart financial services. AI can lower the threshold of service, financial inclusive public, China's personal wealth in 2016 is second only to the United States, China's large average wealth is much lower than the United States, so AI's financial market prospects in China are greater than the United States.
Ac Contactor,Contactor For Ac Unit,Compressor Contactor,Air Conditioner Contactor
NanJing QUANNING electric Co.,Ltd , https://www.quanningtrading.com