Alibaba, Standard Chartered partner to accelerate AI adoption in banking sector
Alibaba Cloud – the
Hangzhou -based firm's AI and cloud computing services arm – to enhance operational efficiency and elevate customer experience, according to a statement on Tuesday from Alibaba, which owns the South China Morning Post.
'Through this strategic alliance, we will combine Alibaba's technological expertise with Standard Chartered's deep industry knowledge to unlock new possibilities,' Alibaba CEO
Eddie Wu Yongming said.
Their cooperation includes building AI-powered customer engagement tools, automating risk management and compliance, and talent development at the bank through AI workshops and certifications for employees.
'From education to healthcare and scientific research, AI has already shown its potential to drive transformational change,' Wu said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
2 hours ago
- South China Morning Post
DeepSeek founder shares best paper award at top global AI research conference
A research paper co-authored by Liang Wenfeng, founder of Chinese artificial intelligence start-up DeepSeek, was honoured with the best paper award at the Association for Computational Linguistics (ACL) conference in Vienna, Austria, widely recognised as the premier global conference for AI researchers. The paper, titled 'Native Sparse Attention: Hardware-Aligned and Natively Trainable Sparse Attention,' was published on February 27, with Liang listed as one of 15 authors. The 'native sparse attention' mechanism is a core improvement that underpins the high efficiency and low-cost performance of DeepSeek's AI models. The paper's win comes as Chinese scientists and researchers are outperforming US peers in basic research in the field of computational linguistics and natural language processing. At this year's ACL conference, more than half of the first-named authors on accepted papers originated from China, up from less than 30 per cent last year. The US ranked second, with 14 per cent of first-named authors, according to ACL data. Among the four best papers recognised by ACL, two author teams were from China. They included Liang's DeepSeek team and Yang Yaodong's team from Peking University. An undated photo of DeepSeek's Liang Wenfeng. Photo: Weibo Yang, an assistant professor at the Institute of Artificial Intelligence and chief scientist of the Peking University-PsiBot Joint Laboratory, led research that explored a possible mechanism explaining the fragility of alignment in language models, attributed to the elasticity of language models.
RTHK
7 hours ago
- RTHK
StanChart beats expectations with 26pc profit rise
StanChart beats expectations with 26pc profit rise Standard Chartered saw strong performances from its wealth, markets and global banking divisions. File photo: Reuters Standard Chartered reported on Thursday its first-half pretax profit rose 26 percent, beating analysts' estimates, as a strong performance from its wealth, markets and global banking businesses boosted revenue at the emerging markets-focused lender. StanChart, which earns most of its revenue in Asia and Africa, said the reported pretax profit for the first six months of this year reached US$4.38 billion. That compared with US$3.49 billion a year earlier and the US$3.83 billion average of 15 analyst estimates compiled by the bank. The London-headquartered lender also announced a further US$1.3 billion share buyback that it said would start imminently. (Reuters)
RTHK
7 hours ago
- RTHK
StanChart beats expectations with 26pc profit rise
StanChart beats expectations with 26pc profit rise Standard Chartered saw strong performances from its wealth, markets and global banking divisions. File photo: Reuters Standard Chartered reported on Thursday its first-half pretax profit rose 26 percent, beating analysts' estimates, as a strong performance from its wealth, markets and global banking businesses boosted revenue at the emerging markets-focused lender. StanChart, which earns most of its revenue in Asia and Africa, said the reported pretax profit for the first six months of this year reached US$4.38 billion. That compared with US$3.49 billion a year earlier and the US$3.83 billion average of 15 analyst estimates compiled by the bank. The London-headquartered lender also announced a further US$1.3 billion share buyback that it said would start imminently. (Reuters)
