Wednesday, September 20, 2017

Ping An to invest $1bn in tech R&D

Ping An Insurance Group will invest more in tech research and development this year, particularly in the field of artificial intelligence.

The company has reportedly allocated more than Rmb7.77 billion (US$1.16 billion) for this purpose.

Ericson Chan, chief executive of Ping An Technology, a subsidiary of the group, said the firm intends to create more platforms in the finance and healthcare sectors this year and following years.

He said Ping An Tech will remain focused on offering tech services for the group, as well as share more with the community.

Ping An Tech has made major strides in tech R&D since its inception in 2008.

Its investments included those on cognition, robot advisory, and cloud businesses for applications in the finance and healthcare industries.

This time, the company will harness the potential of AI in promoting policies that will benefit consumers.

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