Ant Group introduces GenAI-powered financial advisor, Maxiaocai, simplifies investments for millions through personalized guidance.
Ant Group has unveiled Maxiaocai, a revolutionary GenAI financial manager, at the 2024 INCLUSION Conference in Shanghai. This innovation makes personalized financial services accessible through the Alipay and Ant Fortune apps. GenAI Maxiaocai integrates advanced foundation models with financial institutions from Ant Group. This enables the delivery of tailored financial services, making complex concepts easier to understand. The genAI can summarize company financial reports visually, highlighting key details for users. It also breaks down intricate financial terms into simple language, giving users the knowledge and insight.
The challenges Maxiaocai addresses include the traditionally high barriers to accessing financial products and services. Wang Jun, President of Ant Fortune, notes that AI helps democratize these services, making them more user-friendly and accessible. This is especially crucial for individuals in lower-tier cities, who often encounter difficulties when interacting with complex financial systems. The integration of AI-driven solutions creates a robust ecosystem involving financial institutions and content creators, enhancing overall accessibility.
Since its public testing began in early 2024, Maxiaocai has gained traction, attracting 70 million monthly active users as of August 2024. Approximately 45% of these users come from cities below the third tier, demonstrating the AI’s reach. Over 200 financial institutions and more than 15,000 financial content creators are now integrated within the platform, showcasing its collaborative potential.
GenAI technology plays a vital role in enhancing user interaction with financial services. According to Wang Xiaohang, CTO of Ant Fortune, Maxiaocai’s capabilities transform how people engage with financial management. This technology not only organizes necessary information for users but also personalizes their financial experiences. By leveraging genAI models designed for professional services, Maxiaocai integrates market information, financial products, and services seamlessly, making digital financial management accessible to everyone.