Ant Group has started testing consumer and professional apps for their finance-specific AI products.

Jack Ma-founded Ant Group has won approval from Chinese authorities to launch mass market products powered by its self-developed artificial intelligence model.

Unlike other countries, China requires companies to submit security assessments and receive clearance before releasing AI products to the public.

The Alibaba affiliate’s Bailing large language model has passed a security assessment — which is required under Beijing’s new regulations for governing AI — the company said in a statement on Monday. 

The company is also completing internal testing on a number of applications based on the model and will make them available to the public soon.

The fintech giant has joined domestic peers including Baidu, SenseTime and ByteDance in the competition to lead the development of next-generation AI technology. I

n September, Ant Group unveiled a large language model focused specifically on finance.

Sources | Reuters & Financial Times