On the afternoon of 14 May 2020, an online finance lecture was held by the Faculty of Finance of City University of Macau, where Professor Zhan Jia Yang, a member of the Macau Talents Development Committee, Associate Professor of the Chinese University of Hong Kong and also a leader in the financial field, made a speech titled “ AI Innovation in the Financial Industry”. The lecture was hosted by Dr. Khong Yueng Wah, Associate Dean of the Faculty of Finance, and many students attended the lecture online.
The lecture focused on three aspects of the financial service industry: new competitors, AI innovation in the financial industry, and AI's strategy in the financial industry.Professor Zhan first provided an analysis of the most valuable companies in the world, all of which count on innovative technology industries. These companies have gradually replaced those high-value companies that were prevalent in traditional finance, energy, and trading sectors. Comparing the current high market value companies including Microsoft, Apple, Facebook, Alibaba, etc., reveals that their success cannot be possible without the development of AI innovation.
At the same time, he pointed out that traditional enterprises are facing four challenges, including: 1. The rise of technology giants and other companies. 2. The emergence of a large number of start-ups. 3. The crossover business model , such as sharing-economy-based companies, using new entrepreneurial models to change the old business models. 4. The competition among peers and other companies of different sizes. Therefore, AI will affect the future direction of various industries, and the financial industry is no exception. In the future, people must actively combine different intelligent technologies to obtain data analysis of different spans and depths to meet development needs.
In the final Q&A session, the students actively asked questions, and Professor Zhan gave them detailed answers, which benefited students a lot. He also encouraged students who are interested in focusing on this development to pay more attention to financial technology and investor intentions so as to analyze future trends, and reminded students to always study hard.
To review the wonderful lecture, please click the following link:
https://web.microsoftstream.com/video/b1bdd933-0e90-49df-9e8a-027aa7637ca1