Shulou(Shulou.com)11/24 Report--

[Beijing, China, September 6, 2023] from June 27 to 28, 2023, the Amazon Cloud Technology China Summit 2023, organized by Amazon Cloud Technology, was held at the Shanghai World Expo Center. Cui Qi, vice president of ADVANCE.AI, was invited to attend the summit and delivered a keynote speech on "compliance, growth, and user experience". "under the strict trend of global regulatory compliance and facing the new challenges and opportunities brought by cutting-edge science and technology, Chinese offshore companies need to realize that compliance is a double-edged sword, and good use can lead to far away, while ignoring it will lead to failure," said Cui Qi, ADVANCE.AI. "We should plan carefully, plan ahead, prepare in advance for future challenges and uncertainties, and create a platform of compliance and trust."

Cui Qi, vice president of △ ADVANCE.AI, delivered a keynote speech at the 2023 Amazon Cloud Technology China Summit.

The following is an excerpt from ADVANCE.AI Cui Qi's speech:

Viewpoint 1: more and more Chinese enterprises going abroad will go further and further.

ADVANCE.AI has been operating in Indonesia since 2016, providing solutions for digital transformation, anti-fraud and process automation, and has experienced a full cycle from growth to explosion in the Southeast Asian financial technology market. From the perspective of ADVANCE.AI 's insight and industry customer development, Chinese enterprises have favorable factors in policy support, market competition and capital in the past two years.

At the macro level, policy dividends are being released to support companies to go global.

At the market level, whether for the sake of competition or development, going out to sea has become a must-answer for the development of Chinese enterprises.

At the capital level, dollar funds have tightened their investments at home, but have continued to pour into cross-border sea ventures.

From the point of view of the choice of target regional market, Chinese enterprises are going further and further out to sea. 60% of overseas companies already operate on more than three continents. Southeast Asia, Europe and North America are still the main destinations for Chinese enterprises to go abroad, and South America, Africa and the Middle East are becoming the "new blue ocean".

In the post-epidemic era, Southeast Asia is still the most popular overseas destination for Chinese financial technology companies, accounting for 33.2% of the market, mainly in consumer finance such as online lending and consumer installments. Followed by Hong Kong, Macao and Taiwan, including mobile banking, Internet securities firms, wealth management and other digital banks and financial investment companies accounted for 12.7% of the local market share. With the influx of a large number of financial technology enterprises, the increasingly fierce competition in the Southeast Asian regional market and the gradual improvement of market regulatory policies in various countries, the licensed financial technology enterprises will have a broader space for development and more robust growth in the future.

From the point of view of the stage of going out to sea, after years of development, the modes of Chinese financial technology enterprises going to sea are becoming more and more diverse, including self-management, shareholding, cooperation and so on. With the continuous improvement of the offshore business model of financial science and technology and the continuous improvement of the demand for business localization, Chinese financial science and technology enterprises are gradually increasing their cooperation with local financial institutions in Southeast Asia to speed up the ability of localized business.

Based on a more in-depth understanding of the local market, overseas enterprises have also simply copied China's mature financial products in the past. Gradually turn to explore the use of big data, cloud computing, artificial intelligence and other cutting-edge technologies to help local traditional financial institutions achieve a new stage of digital transformation and upgrading.

In addition, due to the deregulation of epidemic control and the reopening of the country's doors, it can be foreseen that the recovery and growth of outbound tourism consumption in 2023 will directly boost the demand for cross-border payments. accelerate the development of mobile payment, cross-border settlement, e-commerce and other industries in Southeast Asia and other popular tourist countries.

Viewpoint 2: AI can also upgrade and manufacture fraud while preventing fraud. Companies going to sea must pay attention to compliance and anti-fraud.

Chinese enterprises are entering the "deep water zone", and the competition will be more and more fierce. how to realize the local operation and upgrade from "system" to "wisdom" will become the key to win. At the same time, the process of online transformation of the global economy has been accelerated, and the rapid development of artificial intelligence technology has also lowered the technical threshold for crimes such as money laundering and digital identity fraud, and the number of violations has increased significantly, such as AI face change, AI voice change, AI video, which often appear in the eyes of the public recently. As a result, governments gradually pay attention to the regulatory crackdown on the abuse of digital identity fraud and money laundering.

Chinese enterprises are entering the "deep water zone", and the competition will be more and more fierce. how to realize the local operation and upgrade from "system" to "wisdom" will become the key to win. At the same time, the process of online transformation of the global economy has been accelerated, and the rapid development of artificial intelligence technology has also lowered the technical threshold for crimes such as money laundering and digital identity fraud, and the number of violations has increased significantly, such as AI face change, AI voice change, AI video, which often appear in the eyes of the public recently. As a result, governments gradually pay attention to the regulatory crackdown on the abuse of digital identity fraud and money laundering.

ADVANCE.AI Cui Qi said: "the speed of development of artificial intelligence, coupled with the decline in development costs, has opened up a world full of possibilities for us." However, this rapid development has brought its own challenges, including moral, data privacy and security issues. Recognizing this, ADVANCE.AI has invested resources to address this important issue, and we have a dedicated team dedicated to protecting our customers from AI-based intrusions or attacks. "

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