At present, the fourth industrial revolution characterized by digitalization and intelligence is "oncoming", and the wave of digital economy has a profound impact on all walks of life. Among them, the financial industry, as the core of the modern economy, is also facing a series of major challenges and opportunities.
Compared with other enterprises, the financial industry relies on data analysis and intelligent decision-making to better serve customers, which has become its core competitiveness. It can be seen that the current new technology represented by AI has achieved various applications in the financial industry, including risk management, investment decision-making, anti-fraud, intelligent customer service, etc., while improving the efficiency of the financial industry, it is also profoundly changing The business model and service model of the financial industry.
Therefore, standing at an important juncture in the digital transformation of the financial industry, how to rethink the connection capabilities, data capabilities, application capabilities, and infrastructure capabilities of the financial industry is not only related to the reshaping of the competitiveness of the financial industry in the future, but will also become a The value of exploration and practice behind the digital and intelligent transformation of Chinese enterprises and my country's "weathervane" in the field of digital economic development is undoubtedly of great and far-reaching significance.
Intelligent decision-making in the financial industry "shifting gears and speeding up"
Undoubtedly, with the accelerated development of the digital economy today, the data element market has become an important part of the financial industry. The key reason behind it is that, as a typical data-intensive industry, the financial industry has been at the forefront of data applications in the whole society since its birth. The core position, especially in the era of digital intelligence, through improving data governance, mining data value, and promoting intelligent applications, has become a new means and new trend for the financial industry to promote management reform and release data value. Promote the transformation of the financial industry from high-speed growth to high-quality development.
In this context, as a reliable digital transformation partner of the global financial industry, Huawei established the Digital Finance Corps last year. The core is to continue to cultivate around the financial industry scene and help the financial industry better cope with the new challenges of the digital age.
Among them, in the field of data intelligence, Huawei and its ecological partners released a financial data intelligence solution last year. This solution uses a digital intelligence integration base and two production lines of data and AI to empower digital marketing, risk control, and operations. In a typical scenario, the "out-of-the-box" enterprise-level data platform is realized, which promotes the intelligent upgrade of the financial industry's decision-making and operation systems, and helps the financial industry discover the value of data.
For example, Bank of Communications' "Lake-warehouse Integrated Data Center Practice" based on Huawei's intelligent data lake won the "Best Big Data Application" award last year by The Asian Banker. It has helped Bank of Communications achieve a qualitative leap in many fields: in the marketing scenario, user portraits are established based on user transaction interactions, and the customer conversion rate has increased by 164% compared with before; in the risk control scenario, through real-time analysis of user behavior characteristics, real-time Identify fraudulent behaviors and reduce risk cases by 52%. In the operation scenario, real-time report query and analysis of banking business are realized to quickly support business decision-making. In the customer relationship management scenario, a customer loss early warning model is established to track and maintain lost customers in a timely manner.
Bank of Communications worked with Huawei to reconstruct the basic big data platform, which not only improved the timeliness of massive data services, but also provided data services in multiple fields such as marketing, risk, supervision, and operation, and realized centralized data governance and monitoring, streamlined management, and Panoramic view of data assets, gradually promote "business digitization, data businessization", and accelerate the construction of digital SGB.
For another example, as a representative of city commercial banks, Weihai City Commercial Bank is also making every effort to promote digital transformation, and regards the establishment of a data platform as the core. In 2021, the bank will establish the Digital Banking Department, which will be responsible for the data management of the whole bank, and use Huawei FusionInsight MRS and GaussDB (DWS) to build a unified, efficient, and real-time "lake-warehouse integration" basic data base to realize unified data management and Full link data governance.
The data shows that the construction of a new generation of distributed data warehouse has significantly improved the utilization rate of the bank's digital resources, shortened the day-end batch time by 3 hours, and increased the computing power by 3 times; the data query time has been greatly shortened, the report query can be responded in seconds, and the query speed is 3 The data query supports 7*24 hours, realizing T+0 application scenarios; the platform performance is greatly improved, the cluster failure rate is reduced by 80%, and the resource utilization rate is increased by 30%.
Of course, entering 2023, the integration of data and AI is accelerating and upgrading. The most typical is the recent rise of AIGC, which has not only become a new productivity tool for many industries, but also has new influences and challenges on the future development of the financial industry.
From the perspective of the industry, in the era of intelligence, data needs to be further transformed into new productivity in the financial industry. This process is not "one-off", and requires staged evolution. Based on such considerations, in the future, systematic thinking will be needed to continuously cultivate data and promote the financial industry to achieve intelligent upgrades in decision-making and operations.
For this reason, the author learned that Huawei is about to release Data Intelligence Solution 3.0, which should be the "master" of its innovation and practice, and will also achieve multi-faceted new upgrades in terms of data intelligence platform and technology-enabled business. The author believes that this innovative solution will promote the financial industry to realize the "shifting speed" of intelligent decision-making.
Huawei Global Smart Finance Summit 2023 is worth looking forward to
Of course, digitization and intelligence are reshaping the financial industry and driving new growth. Facing the future, how to accelerate the application of new technologies, agile innovation, explore new business models, build new user experience, innovate to improve productivity, and accelerate the digital and intelligent transformation of the financial industry are the focus of the entire financial industry.
For this reason, at the Huawei Global Smart Finance Summit 2023, in addition to the release of Data Intelligence Solution 3.0, I believe that there will be more new products, new solutions, and new plans. worth looking forward to.
"Intelligent leadership and rapid change, jointly build a future of digital and intelligent finance", Huawei Global Smart Finance Summit 2023, so stay tuned!
