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Ping An Unveils AI Technology at International Maritime Silk Road Forum

Empowers Smart City and Healthcare

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The second 21st Century Maritime Silk Road Forum on International Communication was held in Zhuhai in 19-21 September. Jean-Pierre Raffarin, former Prime Minister of France and Thomas J. Sargent, the 2011 Nobel Prize winner for Economics delivered keynote speeches at the main forum. As a leading company in the Guangdong Province, Ping An Insurance (Group) Company of China, Ltd. (hereafter “Ping An” or “the Group”, HKEx: 2318; SSE: 601318) was invited to attend the forum to demonstrate its core technology and latest technological achievements.

Ping An Smart City, a technology subsidiary of Ping An, showcased its “Panoramic Smart City Interactive System” which enables a better understanding of the pulse of a city during the forum. Ping An Good Doctor unveiled its “One-Minute Clinic” which integrates intelligent doctor consultation and medicine purchasing. The two key technology products have attracted the attention of government officials, guests and international media. In the afternoon of the 19 September, Ma Xingrui, Deputy Secretary of Guangdong Provincial Committee and Governor of Guangdong Province, Shen Haixiong, Vice Minister of the Publicity Department of the Communist Party of China and President of the China Media Group, Guo Yonghang, Secretary of Zhuhai Municipal Committee and other government officials visited Ping An’s booth to experience the “Panoramic Smart City Interactive System”.

The “Panoramic Smart City Interactive System” combines urban 3D scenarios with big data panels. Through gesture-based interactions, the system displays urban operations from various aspects such as economy, real estate, population, environmental protection, government affairs, transportation, medical and education etc. The system reveals the display logic of detailed data panels based on key indicators (with 3D effect). It is also able to interpret changes through data, predict trends through analysis, show diversified effects through visualization technology, and enhance the sense of substitution and operability through somatosensory interactions. It aims to create a clear, intuitive, three-dimensional and exquisite panoramic scene of a city. This 3D panoramic scene could reflect the current situation of urban development, key focus and future development trend of a city, so as to enhance the efficiency of the government and provide technology-related reference data for the government.

Read More: The Promise and Potential of AI for the Insurance Industry

The “One-Minute Clinic” is an offline extension of the app of Ping An Good Doctor. It combines the most advanced Artificial intelligence (“AI”) technology in China with its in-house medical team, which has more than 1,200 full-time medical personnel. It also stores 100 stock keeping units (“SKU”) of common drugs, meeting the needs of most patients. The smart outlets integrate doctor consultation, pharmacy and purchasing medicine in one, solving the problem of patients travelling at least three kilometers to purchase medicine. Among which, the One-Minute Clinic is composed of two parts: smart medicine cabinet and AI consultation room. The smart medicine cabinet serves as a vending medicine. Using speech recognition technology, it also serves as a smart medical consultation device. The AI consultation room provides online consultation 24 hours a day, 7 days a week. The AI consultation room has been designed to ensure privacy for users, and it is free from outside interference.

To further enhance the Group’s technological and innovation capabilities, Ping An has established two technology innovation centres and recruited hundreds of innovators in the east and west coasts of the US since 2017. Its technological innovation team has been expanded to approximately 24,000 members year-to-date. Eyeing on the world’s leading financial and healthcare technologies, the Group has also launched the “Ping An Global Voyager Fund”. The fund seeks to invest in innovative technology companies that could bring the world’s best-in-class financial and healthcare technologies and generate strategies for the Group, and introduce their products and services to China.

Read More: Insurtech: the new AI disruption is hitting insurance

In recent years, many technologies developed by the Group have been widely recognized by countries and regions along the “Maritime Silk Road”. In August, the Group jointly cooperated with the Hong Kong Monetary Authority to build an international trade financing platform based on blockchain technology. This project marked the recognition of Ping An’s blockchain technology by its international partner, and also represented the opening up of the Group’s overseas market for technology export.

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Ping An has invested more than RMB50 billion in technological R&D in the past decade. Its patent application has risen to 6,121 year-to-date. Capitalizing on its four core technologies namely smart recognition, AI, blockchain and cloud computing, Ping An expanded its application scenarios with an aim to improve cost efficiency, enhance risk management, create excellent customer experience, strengthen competitiveness, export technologies and services, accelerate technology commercialization and promote the industry’s technology standard. At present, Ping An has widely applied its core technologies to support the Group’s five ecosystems of financial services, health care, auto services, real estate services and smart city services. It has also successfully incubated four unicorns including Lufax, Ping An Good Doctor, OneConnect and Ping An Healthcare Technology.

Adhering to the government’s “Belt and Road” initiative and the Group’s “finance + technology” strategic guidance, Ping An will seek to strengthen cooperation with the Belt and Road countries and enhance its competitiveness by vigorously introduce innovative technologies. At the same time, the Group will further enhance its innovation and R&D capabilities, and leverage its four core technologies to contribute to the country and society by servicing the government’s Belt and Road infrastructure.

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