Aiming at diversified AI technology innovation, Bairong Cloud Innovation continues to deepen the digital transformation of the financial industry

文 | Luo Li

The large model craze set off by ChatGPT is still spreading, and AIGC technology is leading a wave of technological revolution in the new era. The wave of changes continues to give rise to new technological innovations, and AI companies focusing on vertical fields have taken the lead in integrating large models into commercial applications and have achieved impressive results.

Recently, Bairong Yunchuang (06608.HK), the leading AI platform in the vertical financial field, released its unaudited operating summary for the first quarter of 2023 (hereinafter referred to as the "First Quarter Report"). According to quarterly report data, Bairong Yunchuang achieved total revenue of 566 million yuan in the first quarter, a year-on-year increase of 25%. Its performance grew steadily and its performance was as usual. Bairong Yunchuang's three core business segments have all achieved year-on-year growth in specific numerical values, among which the year-on-year growth of the precision marketing services segment is close to 50%. At the same time, Bairong Yunchuang’s in-depth R&D investment in AI and SaaS cloud business will continue to record positive returns, and the financial digital transformation enabler is entering the harvest period.

Under the current policy background of making the digital economy bigger and stronger, Bairong Yunchuang has gradually become an important force in promoting the digital and intelligent transformation of the financial industry by virtue of its technological innovation advantages.

1. The Troika moves forward steadily

In the first quarter of 2023, Bairong Yunchuang delivered an outstanding performance answer sheet, with both revenue and profit increasing. According to the financial report, Bairong Yunchuang's troika is still moving forward steadily. The three major businesses are working together. The core two main businesses, intelligent analysis and operation segment and precision marketing service segment, have grown strongly, with year-on-year growth of 41% and 48% respectively. %, achieving revenue of 281 million yuan and 138 million yuan respectively.

Against the background of the improvement of the macroeconomic situation, Bairong Yunchuang achieved rapid improvement in profitability last year, and its net profit doubled in 2022. The 2022 financial report shows that Bairong Yunchuang’s adjusted net profit last year increased by 108% year-on-year, reaching 294 million yuan.

In addition to the sustained and stable operating performance, Bairong Yunchuang's financial status is very healthy. Not only has its profitability been verified, but its sufficient cash flow has established a solid financial foundation. As of the end of December 2022, Bairong Yunchuang had 3.978 billion yuan in cash and cash equivalents. After the release of this year's first quarter results, Bairong Yunchuang carried out repurchases for two consecutive days from May 29 to 30, repurchasing a total of 2.2965 million shares, with a cumulative repurchase amount of HK$21.6843 million. Active repurchase actions release to the market the company's management's firm confidence in the company's future development.

Industry analysts believe that the core factor driving the continued growth of Bairong Cloud's performance is that it has been deeply involved in the digital intelligence of China's financial industry for many years, and has accumulated accurate insights and in-depth understanding of the needs of financial institutions' customers. It has a strong reputation in the industry and Technological innovation levels are constantly breaking through their own limits.

For financial institutions, processing trillions of underlying database information requires a lot of manpower and energy. As a financial AI SaaS company, the core competitive barrier is reflected in the Helping financial institutions conduct intelligent analysis and decision-making to reduce operating costs is also the most valuable aspect of AI's commercial application in the financial field.

As a leading company in the field of financial AI, the SaaS cloud independently developed by Bairong Yunchuang uses breakthrough technologies such as AI, cloud computing and machine learning to build a complete financial ecosystem. Empowering the front, middle and back offices of financial institutions through AI technology provides the financial industry with highly adaptable integrated products and solutions such as intelligent analysis, inventory operations, and joint modeling, helping institutions expand their business radius and further acquire long-tail customers. At the same time, we carry out efficient customized services with user portraits as the core. This helps financial institutions complete digital and intelligent transformation and achieve comprehensive empowerment.

In the era of big models, Bairong Yunchuang’s financial ecosystem will be further verified by the market and unleash unlimited business value potential.

2. Continue to increase technology research and development, and stabilize core barriers

The explosion of ChatGPT at the beginning of the year set off a "battle of hundreds of models" in the technology circle, leading to a wave of AIGC technology development.

As the applications of AI large models gradually become diversified, secondary development based on large models has become an inevitable trend in the AIGC field. In the financial field, the commercial value of AIGC cannot be underestimated. According to statistics from the Huaying Research Institute, by 2024, the core market size of financial AI will reach 51.6 billion yuan, with a compound annual growth rate (CAGR) of 25%, driving the scale of related industries to 121.1 billion yuan.

"The AIGC algorithm has shown significant advantages in financial data modeling and intelligent interaction; in terms of credit scoring and fraud detection, discriminative AI technology is more powerful. In-depth integration of the two algorithms can achieve high efficiency and high While maintaining high performance, it can flexibly respond to different financial scenarios and needs to achieve the best balance." said Zhang Shaofeng, CEO of Bairong Yunchuang.

Bairong Yunchuang continues to self-research and iterate core technologies based on the needs of the financial AI market, and gradually builds core barriers. Data shows that Bairong Yunchuang's products have three major characteristics: automation, intelligence and mass quantification. In terms of empowering the digital transformation of financial institutions, technological innovation is also an important assessment criterion for financial AI companies. Bairong Yunchuang has continued to iterate on AI technological innovation,

Having been deeply involved in the industry for many years, Bairong Cloud has accelerated the "digital intelligence" matrix of various departments of the group, forming a unified AI platform covering all business lines of the company, and continuously strengthening its capabilities in intelligent voice robots, ORCA machine learning platforms, and models. Innovation efforts in areas such as management platforms. As early as 2018, Bairong Yunchuang began to develop an intelligent voice robot (Chatbot) that uses the Transformer attention mechanism to fit the human-computer interaction method in a breakthrough way. It has built-in Softswitch (Softswitch), ASR (Automatic Speech Recognition), TTS (Text) Technologies such as voice-to-speech and NLP (natural language processing) can achieve powerful processing and response capabilities in complex interactions.

As a company with strong technological genes, Bairong Yunchuang has been increasing its investment in technology research and development. According to the 2022 financial report, Bairong Yunchuang's R&D expenses increased to 370 million yuan last year, accounting for nearly 20% of total revenue, a further increase of 47% from 2021. It is reported that the current proportion of R&D personnel in Bairong Yunchuang is about 50%. According to the first quarter report, Bairong Yunchuang has obtained more than 200 national patents and software patents. These patents cover many cutting-edge fields such as privacy computing, machine learning, federated learning, and intelligent voice. In addition, the stability of Bairong Yunchuang's self-built SaaS cloud architecture has reached 99.996%, and can handle more than 100 million calls per day.

In-depth management of existing customers is the key to focusing on intelligent operation business in the digital transformation of financial institutions. Data shows that Bairong Yunchuang's intelligent operation business line can not only help the financial industry achieve efficiency goals in business stratification, customization, human-machine coupling and system self-optimization, but also has ASR and NLU developed for it. , TTS model underlying tuning strategy, customized and integrated into other softswitch systems, significantly reducing network data transmission consumption caused by traditional technology, thereby providing operational empowerment in multiple scenarios.

Under the superposition of continuously improving technical strength, Bairong Yuchuang’s performance has grown significantly. Based on the 144% year-on-year growth rate last year, the operating income of Bairong Yunchuang's "intelligent operation" business line based on AI technology continued to increase in volume in the first quarter of this year, with revenue increasing by 68% year-on-year, continuing explosive growth.

3. Under the AIGC boom, we will continue to support the digital and intelligent transformation of financial institutions

As a technological innovation-driven enterprise, over the years, Bairong Yunchuang has actively participated in witnessing the advancement of AI from 1.0 to the 2.0 era. Through the deep integration of self-developed AI technology and financial business, it has provided a stop for the digital transformation of financial institutions. full-link service.

From a technical perspective, in the AI2.0 era, interactive tasks have transformed from complex functions to complex topological structures. With the help of the Transformer attention mechanism, we can further adapt to the human brain learning method, and ultimately achieve breakthroughs in natural language processing (NLP) tasks. sexual progress. AI has been comprehensively upgraded in the financial field. Thanks to the support of advanced technologies such as NLP, everything from intelligent analysis to information generation has been enhanced.

For banks whose main source of profit is the interest rate difference between deposits and loans, the digital transformation requires the support of Bairong Cloud's AI technology to solve the stubborn problems before, during and after the loan.

For many years, Bairong Yunchuang has been exploring the field of AI and is committed to providing in-depth empowerment for the digital transformation of the banking industry. The company's main service is to provide AI intelligent voice robot services for banks. According to the announcement, the artificial intelligence laboratory established by Bairong Cloud as early as 2018 is based on the research and development layout of intelligent speech recognition, NLP, AutoML, deep learning, privacy computing and other technologies as well as underlying algorithms such as Transformer, model performance tuning, and complex neural networks. , empowering generative AI to business areas such as intelligent customer service, intelligent marketing, and post-loan management.

Bairong Yunchuang's intelligent voice robot has made a breakthrough in technology, achieving an experience similar to real-person interaction, and successfully improved the speech recognition accuracy to more than 99%. In terms of semantic understanding, Bairong Yunchuang's intelligent voice robot is based on ChatGPT homologous technology, which can achieve multiple rounds of dialogue while minimizing labor costs. The superimposed algorithm-driven intelligent marketing center helps banks and other financial institutions complete credit card user activation, Wealth marketing, customer maintenance and other work can effectively improve the service accuracy and operational efficiency of financial institutions. The frequency of automatic interactions exceeds 100 million levels every day, leading the industry in scale.

In Zhang Shaofeng’s view, facing the current urgent need for digital transformation in the financial industry, a diversified combination of AI technologies is needed to better capture subtle changes in the market and provide financial institutions with more accurate risk warnings. "In the future, large models and application layer vertical domain models are expected to jointly shape the industry landscape."

In addition to technological innovation capabilities, customer retention is the core indicator for measuring a financial AI SaaS company. In the first quarter of 2023, the number of core customers in the intelligent analysis and operation business segment of Bairong Yunchuang reached 105, a year-on-year increase of 12%; the average revenue of core customers reached 2.06 million yuan, a year-on-year increase of 23%. The retention rate of core customers in the intelligent analysis and operation segments remained at a high level, reaching 93%.

With the continuous development of the financial AI market, the market share of the leading company Bairong Yunchuang has become stable, and the Matthew Effect is becoming more and more obvious at this time. By the end of 2022, Bairong Yunchuang has provided services to more than 7,000 financial institutions. Customers include the six major state-owned banks, 12 joint-stock banks, more than 1,000 regional banks, insurance companies, and many other licensed financial service providers.

Looking at the larger picture, in the development of the digital economy, cloud services, as a core link, play a very important role in promoting and driving my country's social and economic development and the transformation and upgrading of enterprises.

In June 2022, the State Council issued the "Guiding Opinions on Strengthening the Construction of Digital Government" proposing to "improve the level of autonomy and controllability, strengthen independent innovation, accelerate the research on key core technologies in the field of digital government construction, and strengthen the application of safe and reliable technologies and products. , and effectively improve the level of autonomy and controllability.

With the support of government policies and the trend of AI digitization, a new industry dividend period has been born. In recent years, the scale of my country's digital economy and the scale of the information and innovation industry have shown a trend of rapid growth. As more and more companies lay out the digital and intelligent transformation track, it has stimulated the fighting spirit of various information technology companies to continue to develop and innovate to seize the market.

According to iResearch statistics, it is expected that the scale of IT investment in the domestic banking industry will maintain rapid growth at a compound growth rate of approximately 24.6% in the future, reaching a scale investment of nearly 600 billion yuan in 2025. Under the imaginative space of a market scale of hundreds of billions, capital favors and bets will continue to be received.

As an industry veteran, Bairong Yunchuang has gradually built a stable customer base over the past many years, with a high customer retention rate. With the continuous increase in R&D and iteration of AI technology, Bairong Yunchuang will continue to lead the way. The industry moves forward, expands market share, and helps the entire financial and banking industry move into the era of digital and intelligent economy.

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