Regarding the original intention of digital transformation, Fei Haojun, Chief Algorithm Scientist of Qifu Technology, stated that under the national digital wave, Qifu Technology takes it as its responsibility to assist in the digital upgrading of China's financial industry, guided by digital and artificial intelligence technology, and provides services to financial institutions. In the service process, Qifu Technology always adheres to the principle of "what problems can be solved by digitization" and focuses on the business. From intelligent marketing to intelligent management, intelligent risk control, and various aspects of the entire financial business, Qifu Technology achieves services through digitization and artificial intelligence technology.
A more important question that arises from this is how to organically integrate digitalization with actual business operations? Fei Haojun said, "Never do technology just because you want to do it. Always remember the starting point of all digital or artificial intelligence technologies - to solve business problems. Starting from solving business problems, then why do you want to do this function, why do you want to do dataization, and finally embed the entire digital capability into the business solution process. In the future, digitalization will naturally occur in every process of the entire business from decision-making to progress, which is a more perfect organic combination."
When it comes to the specific exploration of Qifu Technology in the digital process, especially in the particularly hot field of artificial intelligence in 2023, Fei Haojun said that Qifu Technology has been reserving large model capabilities since two years ago. After the explosion of ChatGPT, the ability of big models has come to the forefront, and Qifu Technology also launched its own financial industry big model in April 2023. Compared to "rolling" model parameters, Qifu Technology places more emphasis on the efficiency of the model and is the first to empower large-scale models at a scale of tens of billions of parameters.
In the process of digitization and serving the real economy, in addition to empowering financial institutions, fintech is also empowering other perspectives, such as small and micro enterprises as the "capillaries" supporting economic development, which is one of the key directions. In Fei Haojun's view, small and micro enterprises will face two major challenges: difficulty in financing and weak technological capabilities.
In response to the problem of financing difficulties, the main focus is to solve two difficulties. One issue is that the information of small and micro business owners is incomplete. In response to the issue of how to provide more credit enhancing information to financial institutions, Qifu Technology has developed customized OCR capabilities (optical character recognition, the ability to turn images into text) to help financial institutions recognize small and micro information. The accuracy of customized OCR capabilities is nearly 10% higher than that of traditional OCR. Secondly, the risk information of small and micro enterprises is not easily identified in traditional risk control. Qifu Technology has constructed a financial knowledge graph, linking the industry geographical attributes, investment and financing relationships, transaction relationships, and behaviors of small and micro enterprises, forming an extremely complex financial behavior network that can help financial institutions better understand small and micro enterprises.
Fei Haojun pointed out that small and micro enterprises have limited digital investment, so Qifu Technology has also systematically and systematically used its accumulated digital capabilities in serving financial institutions to help small and micro enterprise owners provide value-added services, such as bidding information, industry information warning for small and micro enterprises, and the acquisition of potential customers for small and micro enterprises.