Ant Financial Launches ATEC AI Competition for AI-Related Financial Solutions

On April 25, 2018, Ant Financial launched the 2018 ATEC AI Competition in Hangzhou, China. As a renowned financial service group in China, the company has partnered with Chinese and international universities including the University of California, Berkeley and Imperial College London, to put forward discussions and explorations of AI-related financial solutions. During the competition, teams from China, the U.S., and Europe will compete in two categories: identification of payment risks and development of intelligent financial services.

For this competition, Ant Financial has been working with leading developer communities and world-class institutions to better apply AI to financial services. The winning team for each category will receive 300,000 yuan ($47,450) in cash, as well as the opportunity to collaborate closely with Ant Financial in the R&D of financial technologies. The second place and third place teams will be awarded 200,000 yuan ($31,633) and 100,000 yuan ($15,817) respectively.

Eric Jing, CEO and Chairman of Ant Financial, said: “While AI is already transforming the financial service industry by elevating operational efficiency, there is still much to be done in terms of robust and scalable AI solutions which will enable us to better serve our customers. Ant Financial is striving to provide more inclusive financial services, and encouraging innovation in different fields, from credit and loan, to wealth management, securities, insurance and customer services. We’ve already applied AI-driven data modelling to traditional risk management, and we’re also introducing intelligent robots to help customer service representatives monitor exceptional situations.”

Members of the ATEC AI Competition Advisory Committee are renowned AI experts from around the world, including Michael Jordan, a pioneer scholar in machine learning from the University of California, Berkeley; Deyi Li, Director of the Chinese Congress on Artificial Intelligence (CCAI); Yike Guo, Director of the Data Science Institute at Imperial College London; and Changjun Jiang, President of Donghua University. They will serve as judges for the competition and offer advice to the teams.

The 2018 ATEC AI Competition has now opened its registration on its official website and teams can sign up for their chance to compete and win. Registration will close on July 9th, 2018 and the winners will be announced later this year.