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Ping An Appoints AI Expert Ray Wang as Chief Technology Officer to Accelerate Comprehensive Digital Transformation
Ping An Appoints AI Expert Ray Wang as Chief Technology Officer to Accelerate Comprehensive Digital Transformation

Korea Herald

time7 hours ago

  • Business
  • Korea Herald

Ping An Appoints AI Expert Ray Wang as Chief Technology Officer to Accelerate Comprehensive Digital Transformation

HONG KONG and SHANGHAI, July 29, 2025 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. ("Ping An", the "Company" or the "Group", HKEX: 2318; SSE: 601318) has announced the appointment of Mr. Ray Wang as the Group's Chief Technology Officer (CTO) and General Manager of Ping An Technology. The appointment of Ray Wang will significantly enhance the Company's research and development (R&D) and application capabilities in artificial intelligence (AI). His leadership is expected to drive the deep integration of Ping An's self-developed large language models and open-source big data platforms, accelerating the establishment of five key digital systems "digital business, digital operations, digital management, digital marketing, and digital services." This move aims to inject strong momentum into the Company's technology-enabled "integrated finance + health and senior care" dual-driver strategy, further advancing its comprehensive digital transformation. Ray Wang holds a master's degree in computer science from the National University of Singapore. Prior to joining Ping An, he held senior technical management roles at globally renowned companies such as Google and Bloomberg. In 2015, Wang became Chief Architect at Baidu, where he spearheaded the development of Baidu Wallet and financial services. In 2016, he joined Ant Group, serving as Vice President and CTO of Ant Fortune and Ant Insurance. At Ant Group, he led innovations in digital finance and AI, managing technical and research teams across wealth management, insurance, consumer finance, MYbank, and Zhima Credit. He launched pioneering generative AI products such as AI financial assistant and AI financial business assistant. With nearly 20 years of experience in the "finance + technology" sector, Wang brings extensive expertise in the digital transformation of financial services, the development and application of financial large models, top-tier technical skills, and exceptional innovation capabilities. In recent years, Ping An has been oriented by customer needs, focusing on empowering business scenarios as its core strategy. Ping An has continuously invests in R&D to build leading technological capabilities, which have been widely utilized to enable its core financial businesses and accelerate the development of its "integrated finance + health and senior care" ecosystem. This strengthened Ping An's internal smart application of business scenarios, while promoting the digital transformation of the industry as a whole. The Company has built a "953" technology foundation backed by the data of nine major databases, technical support from the five laboratories, and development and application services of the three technology companies, which creating an AI moat. As of the end of 2024, Ping An has a first-class technology team of over 21,000 technology developers and more than 3,000 scientists. As of March 31, 2025, Ping An cumulatively won 45 championships in domestic and overseas AI competitions and cumulatively filed 55,435 patent applications, leading most international financial institutions. About Ping An Group Ping An Insurance (Group) Company of China, Ltd. (HKEx:2318 / 82318; SSE:601318) is one of the largest financial services companies in the world. It strives to become a world-leading provider of integrated finance, health and senior care services. Under the technology-driven "integrated finance + health and senior care" strategy, the Group provides professional "financial advisory, family doctor, and senior care concierge" services to its nearly 240 million retail customers. Ping An advances intelligent digital transformation and employs technologies to improve financial businesses' quality and efficiency and enhance risk management. The Group is listed on the stock exchanges in Hong Kong and Shanghai. As of the end of December 2024, Ping An had more than RMB12 trillion in total assets. The Group ranked 27 th in the Forbes Global 2000 list in 2025 and 47 th in the Fortune Global 500 list in 2025.

TikTok reportedly prepping new app in the US as potential sale looms
TikTok reportedly prepping new app in the US as potential sale looms

Miami Herald

time08-07-2025

  • Business
  • Miami Herald

TikTok reportedly prepping new app in the US as potential sale looms

TikTok is preparing to release a new app in the U.S. as it awaits a potential sale that would maintain its presence for millions of users in the country, according to media reports. The popular video app, owned by Chinese technology company ByteDance, is under pressure to sell its U.S. operations by Sept. 17 or face a nationwide ban, due to security concerns raised by U.S. government officials over the firm's ties to China. TikTok is planning to make the new app available on Sept. 5, according to tech news site The Information. The existing app could stop working in March 2026 and when that happens, American users would need to download the new app in order to continue to use TikTok, the publication said. TikTok did not respond to a request for comment. Analysts expect that the new app will attempt to address the government's security concerns. Officials have raised the specter of TikTok sharing user data with the Chinese government, which the company denies. Ray Wang, principal analyst and founder of Constellation Research, said he believes TikTok will remain popular in the U.S. even after a sale. TikTok is used by more than 170 million Americans as a way to entertain and educate themselves by watching videos on the app. Small businesses, influencers and major corporations also post content on TikTok to market products. "There will be a transition period from the old app to the new app," Wang said. "The question is how will data be migrated, and I'm sure they will have a solution for that." President Trump last month gave a 90-day extension until Sept. 17 to ByteDance to divest its U.S. operations. The original deadline was Jan. 19, after a law was signed by Trump's predecessor, President Biden, last year, but the deadline has since been extended by Trump several times. TikTok has said that the law "offers no support for the idea" that its Chinese ownership poses national security risks. Potential buyers of ByteDance's TikTok U.S. operations include Oracle Corp. (co-founded by billionaire Larry Ellison), Amazon and an investment group led by Frank McCourt, a former Dodgers owner whose bid includes "Shark Tank" star Kevin O'Leary, analysts said. San Francisco artificial intelligence company Perplexity said in March that it wants to "rebuild the TikTok algorithm." Any deal would need the approval of the Chinese government. Analysts said it is unlikely a sale of TikTok's U.S. operations would include its algorithm - seen as one of the most valuable parts of TikTok - which surfaces videos of interest to its users. Trump on Friday told reporters that he planned to discuss a TikTok deal with China this week, but declined to name the potential buyer, according to the New York Times. "I think the deal is good for China, and it's good for us," Trump said. "It's money, it's a lot of money." Trump's first administration pushed for a TikTok ban, but the president since had a change of heart. He has met with TikTok executives at Mar-a-Lago, mused about TikTok's popularity with young people and bragged online about his significant following on the platform. During his campaign for a second term, Trump positioned himself as a TikTok advocate, saying "those who want to save TikTok in America, vote for Trump." Several TikTok creators told The Times that they have diversified where they post their content and believe their fans will follow them to other platforms if TikTok were to be banned. Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.

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