Ant International rolls out agentic AI platform in pursuit of ‘holy grail' for fintech
Ant International, a spin-off from Ant Group, has launched an agentic artificial intelligence (AI) tool called the Alipay+ GenAI Cockpit, to deliver more efficient payments and compliance capabilities in the financial services industry.
The Singapore-based company said the tool, described as an AI-as-a-Service (AIaaS) platform, enables fintech companies to build agentic AI systems as well as 'AI-native financial services' for facilitating payments and compliance checks. Ant Group is the fintech affiliate of Alibaba Group Holding, owner of the South China Morning Post.
AI agents are programs that are capable of autonomously performing tasks on behalf of a user or another system. Essentially, these agents create a plan of specific tasks and subtasks to complete a goal using its available resources.
'The FinAI sector is at its big-bang moment,' Jiangming Yang, chief innovation officer of Ant International, said in a statement. 'We are eager to work with the industry to evolve and expand the toolbox as well as this ecosystem to help financial businesses scale their growth faster and better.'
Applying AI to the finance world is the 'holy grail of the current AI revolution,' according to Ant.
A banner for Alipay+ is seen at the UEFA Euro 2024 Group D match between Austria and France in Dusseldorf, Germany, on June 17, 2024. Photo: Xinhua
The latest initiative of Ant International reflects efforts of Big Tech firms to leverage their AI expertise to provide tools that will keep value chain partners in their ecosystems.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
30 minutes ago
- South China Morning Post
Who will win the AI contest of the century?
The arrival of artificial intelligence, robotics and new technology has been heralded as a game changer. But how will it unfold, and who will be able to take advantage of AI to win the contest of the century: the United States, China or some other country? Advertisement Writing in Foreign Affairs in 2023, James Manyika, senior vice-president of technology and society at Google, and Nobel laureate economist Michael Spence argued that 'by the beginning of the next decade, the shift to AI could become a leading driver of global prosperity'. These gains would come from not just the rapid advances in AI in creating new content and applications in daily life, but also its rapid spread through the democratisation of innovation. But for it to happen, Manyika and Spence say, we need a new policy framework as well as a new mindset towards AI, and that 'AI technologies must be embraced as tools that can enhance, rather than undermine, human potential and ingenuity'. I think the AI revolution has arrived faster than expected. So far, it looks like the US and China are in a two-horse race, with the others still struggling to catch up for various reasons. My thesis is that no country can afford not to encourage AI adoption to enhance national productivity and avoid the digital knowledge divide. Those who do not will become marginalised. The contest of the century is thus between all countries. In this cutthroat race, with Big Tech seeking to dominate the 'pay-by-subscription' game, we may end up being mentally and financially colonised in different tech domains. Advertisement This is where the Global South can innovate its way through open-access systems that meet individual or local needs, without giving away valuable data by choosing to follow one algorithm platform or becoming locked into 'pay for upgrade' contracts.
South China Morning Post
an hour ago
- South China Morning Post
India's Modi opens rail line, with world's ‘highest railway arch' bridge, to contested Kashmir
Prime Minister Narendra Modi has made his first visit to Kashmir since a conflict with arch-rival Pakistan, opening a strategic railway line to the contested region he called 'the crown jewel of India'. Modi launched a string of projects worth billions of dollars for the divided Muslim-majority territory, the centre of bitter rivalry between India and Pakistan since their independence from British rule in 1947. Nuclear-armed India and Pakistan fought a four-day conflict last month, their worst stand-off since 1999, before a ceasefire was agreed on May 10. 'Pakistan will never forget … its shameful loss,' the Hindu nationalist premier told crowds on Friday, a month since India launched strikes on its neighbour after an attack on tourists in Kashmir. 'Friends, today's event is a grand festival of India's unity and firm resolve,' Modi said after striding across the soaring bridge to formally launch it for rail traffic. 'This is a symbol and celebration of rising India,' he said of the Chenab Bridge which connects two mountains.
South China Morning Post
an hour ago
- South China Morning Post
Hong Kong police to take down fake news report about Andy Lau resembling SCMP
Police will take down a fake news report purporting to be from the South China Morning Post about superstar actor Andy Lau Tak-wah being sued by the Hong Kong Monetary Authority over his investment advice, the Post has learned. A police source said on Friday that the force's cyber security and technology crime bureau was handling the case and would take down the fabricated report as soon as possible. The website was designed to appear like the Post's. The fake article claimed the Monetary Authority had sued Lau over statements he made during a live broadcast, in which he shared his tips on becoming rich through a cryptocurrency trading platform, with a deposit of HK$2,000 (US$254) generating a million dollars in months. 'Give me 2,000 HKD, and with the Immediate FastX platform I'll make a million in 12 to 15 weeks!' Lau was quoted as saying in the article. 'This platform is the perfect solution for those who want to get rich quick. It's built on self-learning artificial intelligence, which exchanges cryptocurrencies for you.'
