2023-12-15,Express information Soochow Securities released a research report in the non-silver financial industry, which pointed out that financial vertical model-opening a new era of digital finance.
The specific content of the report is as follows:
The field of wealth management has become the ideal application direction of vertical models: 1) Policy side: Supervision and boost financial digital transformation.In recent years, regulators have further promoted the development of my country's fintech from the development of fintech standards, data governance and application, and deep integration of technology and financial scenarios.In June 2023, the China Securities Association and the China -Foundation Association released a systematic plan to comprehensively improve the network and information security of securities companies and fund companies.2) Supply side: Overseas vertical models are the first to break through, and the industrial ecology has gradually improved.Relying on its own financial data source advantages, Bloomberg took the lead in achieving deep integration of large models and vertical knowledge of the financial industry.Its large language model BloombergGPT performed in the implementation of financial tasks than the existing general LLM model, and the performance of the general scenarios is basically the same as the existing general LLM model.3) Demand side: Wealth management agencies have strong willingness to access large models, and the opportunity of vertical models is prominent.Under the opportunity of the capital market change, the information technology investment of wealth management institutions continued to grow (the securities industry in 2012-2021 IT investment reached 21.69%), and its willingness to access large models is relatively strong.Compared with GM models, the quality of vertical model training data set is better, and the industry depth is better when dealing with specific tasks in the financial sector. It is expected that it will become the mainstream choice of wealth management institutions in the future.The vertical model is expected to deeply empower the financial industry's digital intelligence upgrade: 1) Intelligent marketing: quickly generate rich marketing materials and support thousands of people to personalized marketing.At the current stage, artificial intelligence has penetrated into the intelligent marketing scenario, and improves the marketing effect of financial institutions from multiple links.Compared with traditional artificial intelligence technology, limited to simple text or NLP, large models can achieve multi -modal hybrid training, which is expected to solve massive non -structured data, customer portrait portrayal difficulties in marketing processproblem.2) Intelligent investment advisory: comprehensively analyze customer needs, automated custom investment suggestions.Intelligent investment consulting has overcome the pain points of traditional models to a certain extent, and has the advantages of low thresholds, inclusiveness, and personalization.The transformation of the current wealth management agency "Buyership Consultation" continues to accelerate, and the acceleration of vertical models in the financial sector is expected to provide potential technical support for the development of intelligent investment advisory business.3) Institute of intelligent investment research: assistance to refine information, automated generating research reports.The high -speed development of AI model technology, its capabilities, interpretation and analysis, logical reasoning and other capabilities will effectively promote the intelligent transformation of the investment and research system. Financial institutions are expected to strengthen the layout.The heroes are expected to stand out: 1) The vertical model delineates a new era of wealth management, and the data foundation has become the key to development.Back to the history, the staged expansion of the wealth management market is often accompanied by the leapfrog progress of fintech.From the perspective of technical routes, the vertical models build the technical routes for their advantages and disadvantages. Pre -training in specific fields may represent the future. Financial technology companies with a solid foundation at the data level are expected to play the advantages of pre -training models in specific fields to the greatest extent.2) (): The accumulation of financial data is abundant, and research on the AI field continues to deepen.Oriental Fortune is a comprehensive operator of the domestic Internet financial service platform. At present, it has built a deeper traffic moat, creating a solid foundation for the landing of large models.In August 2023, the company announced that it was planned to form an artificial intelligence business department, which is expected to achieve a greater breakthrough in financial vertical models.3) (): AI+Financial Pioneer, comprehensively accelerate the layout of the large model.The same flowers are the leading domestic Internet financial information service providers.From 2014 to 2022, the company's research and development investment increased from 115 million yuan to 1.067 billion yuan, with a compound annual growth rate of 28.08%, and the number of R & D personnel accounted for more than 60%in 2022.The company's forward -looking layout of AI in the financial sector, currently there have been many artificial intelligence products such as Cai Cai, and the technological leadership is highlighted.4) (): The leader of financial IT suppliers, the self -developed vertical model is the first to land.Hang Seng Electronics focuses on the financial industry and is committed to creating a leading one -stop financial technology solution with the mission of "making finance easier".With technical services as the core, the company continues to closer the gap with international financial technology giants. From 2017-2023, its ranking in Idcfintechings100 rose from 54 to 22.On June 28, 2023, LightGPT, a large language model in the financial field developed by Hang Seng Electronics, was officially released.Investment recommendations: In the context of the successive introduction of fintech support policies and accelerating overseas financial vertical models, we believe that financial vertical models will become the future development focus of the financial technology field.We believe that fintech companies with large financial trading data, better application scenarios, and more mature AI technology use experience will benefit significantly, recommend [Oriental Fortune], [Flush Shun], and it is recommended to pay attention to [Hang Seng Electronics].Risk tips: 1) Strict supervision environment and inhibit industry innovation; 2) intensive competition in the industry; 3) The rights and interest markets fluctuate significantly.
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