CDF initiates AI development plan to build digital competitiveness with four key pillars.

Mar 5, 2024
Press Release

As the trend of generative artificial intelligence (AI) continues to grow, it is expected to become a key driver of industry development and corporate transformation. In response, China Development Financial Holdings (CDF) has launched an official AI development plan, focusing on four main pillars to construct comprehensive strategic advantages and enhance the enterprise's digital competitiveness through AI-driven initiatives.

In recent years, CDF has successfully established the foundation of information architecture and technological development through the group's information transformation project, "Project Tank," and has also proactively laid out the development of AI in response to the current trend.

CDF's AI development plan "Project Compass" consists of four aspects: "AI Empowerment," "AI Literacy," "AI Deployment," and "AI Governance." With "AI Empowerment," each unit of the group is provided with the necessary skills to initiate AI solutions, fostering collaboration between different business entities and departments, and enhancing the group's overall capabilities. CDF organized a generative AI hackathon last year, inviting internal employees to develop innovative solutions to optimize business processes. The solutions generated during the competition will also be transformed into practical applications.

"AI Literacy" collaborates with external industry partners to organize themed seminars, employee trainings, and workshops to share the latest AI knowledge and cultivate an entrepreneurial mindset that aligns with corporate values. "AI Deployment" aims to utilize group collaboration to jointly develop AI applications, including a comprehensive operation framework and an automated environment necessary for AI development. Additionally, CDF plans to create a common platform for the group's core AI engine in the future. "AI Governance" prioritizes adherence to legal requirements and establishes effective and structured group AI governance frameworks.

CDF's primary focus for AI application is on internal platforms and employee experience. Since last year, the company has introduced a generative AI assistant into its internal communication software to assist employees with tasks such as document translation, email writing, information search and meeting minutes and summaries, thereby improving their daily work efficiency. Additionally, CDF's subsidiary, KGI Life, has become the first life insurance company to incorporate generative AI technology into its "Intelligent Training 2.0" system for sales agents. This system uses AI to simulate real-life scenarios and customer needs, thus enhancing the agents' practical skills.

Terence Yeung, Chief Information Officer of CDF, stated that the company is not only using AI to optimize the current processes but is also actively focusing on several key application areas such as large language models, speech technology, and intelligent creation. The aim is to explore more business opportunities and meet customer needs by utilizing AI application solutions, thus co-creating business development.