Ping An Insurance Harnesses AI to Boost Company Value, Says Chief Scientist

Over the past decade, the largest insurer in the country has generated substantial corporate value through the deployment of artificial intelligence applications, according to the company’s chief scientist.

“By utilizing our AI technology infrastructure and our intelligent agent platform, we are systematically boosting overall efficiency, reducing operational expenses, and enhancing customer service,” Xiao Jing, who oversees AI research and development at the Shenzhen-based firm, shared recently.

Xiao emphasized that AI can also enhance the decision-making process by providing deeper insights, allowing leaders to anticipate challenges and act proactively. The company is building a comprehensive, systematic, and proactively managed AI application framework designed to quickly adopt and integrate the latest technologies, establishing relevant barriers and strengthening its competitive edge.

Additionally, the company and its various subsidiaries are expanding the use of intelligent applications across key business scenarios, aiming to maximize the value across multiple sectors, Xiao explained.

“We have developed the ability to systematically implement AI through the creation of smart agents, forming an integrated application ecosystem and model,” he said. In the first half of this year alone, around 23,000 smart agents were independently developed by employees based on their specific needs, benefiting approximately 110,000 staff members.

Financial managers, insurance agents, and customer service representatives can all create “smart agents” tailored to their roles utilizing the company’s platform, much like assembling LEGO blocks, Xiao explained.

“This functions like an AI application store within the organization,” he added. “Financial professionals can develop agents related to their duties, insurance agents can build solutions for operations, services, and risk management, and colleagues across departments can use these tools without needing to develop them from scratch.”

Developers can access various tools on the platform with ease, thanks to a user-friendly process that minimizes technical barriers, Xiao noted.