HONG KONG and SHANGHAI, April 16, 2025 /PRNewswire/ -- The vibrant city of Hong Kong hosted the inaugural World Internet Conference Asia-Pacific Summit 2025 on April 14 and 15, a significant event that brought together influential leaders from the realms of government and business to explore the rapidly evolving landscape of digital finance. Among the key contributors to this summit was Ping An Insurance (Group) Company of China, Ltd., commonly referred to as Ping An, which co-hosted a specialized sub-forum dedicated to 'Digital Finance'. This subforum provided a platform for rich discussions surrounding inclusive finance, featuring presentations from industry experts including Dangyang Chen, the Chairman of OneConnect Financial Technology, a member company of the Ping An Group, and Ambrose Wong, the Chief Executive and Chief Risk Officer of PAObank Limited, a subsidiary of Lufax Holding.

Notably, Richard Sheng, who serves as the Board Secretary and Brand Director of Ping An, facilitated engaging dialogues with government officials, both from China and various international locations. These discussions focused on pivotal issues such as the integration of cutting-edge artificial intelligence (AI) technologies into the financial sector and the broader development of digital finance.

During a session dedicated to the dialogue between government and enterprises, Mr. Sheng underscored the collective mission of businesses to forge an inclusive, efficient, and sustainable economic framework. He emphasized the importance of melding the digital and real economies to enhance global sustainable development. Demonstrating leadership in this domain, Ping An has initiated a comprehensive digital transformation strategy, which includes implementing data-driven operations, management, and business practices.

These data-driven operations leverage AI, automation, and human assistance to enhance efficiency and streamline processes. The data-driven management approach facilitates the integration of diverse user experiences across various scenarios, while data-driven business practices empower enterprises to anticipate customer needs through sophisticated data analysis, allowing them to proactively offer suitable products and services. As of the end of 2024, Ping An had assembled a premier technology talent pool comprising over 21,000 developers and more than 3,000 scientists, laying a robust foundation for advanced AI technologies.

Ping An's pioneering efforts have led to the establishment of a three-layer large model system that encompasses general models, vertical domain models, and application models. They have developed three extensive financial databases and five major healthcare databases, positioning themselves as leaders in the global landscape for both financial and healthcare data. Furthermore, by the end of 2024, Ping An had filed an impressive 55,080 patent applications, which ranked them first worldwide in the categories of fintech and healthcare patents, and second globally for patents in generative AI.

As part of its mission, Ping An actively provides digital solutions that integrate finance, healthcare, and senior care services. Within the digital finance sector, the company boasts an end-to-end smart system designed to enhance customer service experiences, bolster cybersecurity measures, and improve risk control capabilities. Their AI-driven investment and credit risk management system encompasses nearly 100 million enterprises and individual businesses nationwide, effectively offering early warnings regarding potential default risks. Notably, their AI service representatives have engaged with customers over 1.5 billion times, accounting for a staggering 80% of Ping An's total service volume.

In the automotive insurance sector, Ping An has innovated the world's first image-based Smart Quick Claim system, enabling loss assessments to be conducted within seconds of relevant photos being uploaded, thus accelerating the process by an astonishing 4,000 times. In healthcare and senior care, Ping An has developed a leading domestic solution that supports the medical and healthcare service framework. Their health service, known as Ping An Health or Ping An Good Doctor, has created an AI-based medical system that assists healthcare professionals. This system addresses over 2,000 diseases, boasting an impressive 99% accuracy rate in AI-powered triage recommendations, guiding patients to the appropriate medical departments, while achieving an AI-assisted diagnosis accuracy exceeding 95%.

Moreover, Ping An Health has launched 12 AI-driven models that have enhanced the efficiency of the 'Ping An Family Doctor' service by approximately 30%. Their innovative AI health manager has notably improved chronic disease management rates by a remarkable 90%. To empower financial institutions, Ping An has developed AI-powered smart financial service solutions aimed at enhancing operational quality and efficiency. The solutions introduced by OneConnect have been effectively implemented across the retail wealth management, corporate business, and remote banking services of numerous banks.

Ping An remains committed to seamlessly integrating technology research and development with practical business scenarios to cultivate innovative business growth. At the 'Digital Finance' sub-forum, Mr. Chen elaborated on how OneConnect serves multiple subsidiaries of Ping An, including Ping An Property & Casualty, Ping An Life, and Ping An Bank, providing vital technical support for their digital transformation initiatives. Externally, OneConnect empowers other enterprises by enabling digital technology applications, effectively covering 100% of state-owned banks and joint-stock banks, 99% of city commercial banks, and 65% of property insurance businesses, along with 197 financial institutions operating in 20 countries and regions worldwide.

Ambrose Wong further shared PAObank's accomplishments and insights regarding the exploration of digital applications in the Hong Kong market. He highlighted that, leveraging Ping An's advanced fintech and AI risk control technologies, PAObank has seen a remarkable 40% year-on-year improvement in credit risk identification efficiency, alongside a 25% reduction in operating costs year-on-year. Notably, approximately 25% of small and medium-sized enterprises (SMEs) secured bank loans for the first time, and 8.2% of startups received unsecured loans, marking significant milestones in the realm of innovative and inclusive financial services.

As it continues to promote a comprehensive digitalization strategy and capitalize on emerging opportunities, Ping An is steadfast in advancing its technology-driven approach to 'integrated finance + health and senior care'. The company will persist in enhancing operations, management, and business practices through comprehensive data-driven methodologies. Their goal is to foster high-quality business development, improve the efficiency and quality of financial services, and leverage the 'worry-free, time-saving, and money-saving' value proposition to guide the evolution of their offerings. Ping An is dedicated to ongoing product upgrades and technological innovations across various sectors, including technology finance, green finance, inclusive finance, pension finance, and digital finance. Furthermore, they aim to collaborate with stakeholders to embed AI and digital technologies deeper into the finance landscape of the Asia-Pacific region.

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