Ant Group VP Highlights AI's Role in Risk Control, Cost Reduction, and User Experience at World Internet Conference

On November 8, at the 5th World Internet Conference – “Artificial Intelligence: New Opportunities for Integrated Development” forum, Ant Group Vice President and Chief Data Scientist Qi Yuan stated that AI has three major functions: risk control, cost reduction and efficiency improvement, and enhancing user experience.

Qi Yuan highlighted that AI can control risk, which is core to finance; improve efficiency and lower costs; and boost user experience.

He illustrated these points with examples. For risk control, Ant Group’s micro‑loan “310” model uses AI to analyze multi‑dimensional data, enabling three‑second loan applications, one‑second decisions, and zero manual intervention.

For cost reduction, Ant Group’s “Dingsunbao” tool applies computer‑vision and deep learning to assess vehicle damage from photos, saving over 1 billion yuan in labor costs annually since its launch in June 2017.

Regarding user experience, Ant Group’s AI‑powered smart customer service now handles over 97% of interactions, outperforming human agents on multiple metrics.

Qi Yuan also noted challenges in AI development, emphasizing the need for collaborative innovation and sharing technology, as demonstrated by a national poverty‑alleviation project with Zhonghe Rural Credit where AI improved risk control capabilities.

He concluded that AI is still in its early stages, with unresolved questions about its goals, inclusiveness, and societal impact, and stressed the importance of collective intelligence such as autonomous vehicles and smart navigation.

Xiao Ant says:

On November 8, the 5th World Internet Conference – “Artificial Intelligence: New Opportunities for Integrated Development” forum was successfully held, and Ant Group Vice President and Chief Data Scientist Qi Yuan delivered insightful views on AI. This article provides a concise summary.

Ant Group Vice President and Chief Data Scientist Qi Yuan (rightmost)

Qi Yuan used Ant Group as an example to point out the importance of AI. First, AI can control risk, which is the core of finance; second, AI can improve efficiency and reduce costs; third, AI can enhance user experience.

Qi Yuan substantiated the value of AI in these three areas with examples.

First, regarding risk control, both transaction and loan risks can be managed with AI. Ant Group’s micro‑loan “310” model is a good example of AI‑driven risk control. “With AI, Ant Group can process loan applications in 3 seconds, make decisions in 1 second, and operate with zero manual intervention. Our self‑developed AI technology performs multi‑dimensional analysis of borrowing issues, such as correlation and user data, integrating them for comprehensive assessment,” Qi Yuan said.

Ant Group showcased ‘Dingsunbao’ at the “Internet Light” Expo

Second, regarding cost reduction and efficiency improvement, Ant Group has a classic example: Dingsunbao. Using computer‑vision technology to analyze photos, it can assess vehicle damage and estimate repair costs. This process relies on deep learning and machine learning. Qi Yuan noted that since its launch in June 2017, Dingsunbao has saved over 1 billion yuan in labor costs annually. The greatest value of AI here is turning a previously lengthy, labor‑intensive process into a fully automated computer‑vision task.

Third, from the perspective of user experience, Ant Group’s AI‑built intelligent customer service now has over 97% of interactions handled by “robots”. These robots outperform humans on multiple metrics.

Qi Yuan said that a current challenge in AI development is collaborative co‑creation, so Ant Group intends to open its AI technology externally. Previously, Ant Group partnered with Zhonghe Rural Credit on a national poverty‑alleviation project, sharing AI technology and, through collaborative learning, significantly enhanced Zhonghe’s risk‑control capabilities, fully supporting digital loan services and achieving a synergistic effect greater than the sum of its parts.

Regarding the future of AI, Qi Yuan believes the technology is still in its infancy; many unresolved issues remain, such as the ultimate goals of AI and how to make it inclusive. In the long term, these questions will determine the societal impact AI can achieve.

Qi Yuan pointed out that the most critical aspect of AI is that current discussions focus on individual intelligence, whereas true intelligence is collective. “Collective intelligence is vital, for example in autonomous vehicles and smart navigation; it’s not just a single car but the fleet across a city, and the resulting impact is crucial,” he said.

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