NCF Group Expands its Presence in the AI Field

2018-04-18
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 On 18 April, NCF Group and Golaxy Go jointly held the Press Conference on the Strategic Partnership in Artificial Intelligence (AI) in Beijing, and announced the upcoming match between Ke Jie and “Golaxy”. The match will be a key event in the first “Go Seigen Cup” World Women’s Championship and also the “Berry Genomics Cup” 2018 World AI Go Competition. As a group devoted to the financial technology services, NCF Group joined hands with Golaxy Go in the attempt to apply AI algorithms to multiple scenarios, including finance, health care and life services, so that AI can contribute to those industries.

  Golaxy’s algorithm is different from that of AlphaGo and China’s AI is expected to rival or even surpass the world level

  In 2017, Goldman Sachs published a report titled China’s Rise in Artificial Intelligence, which stated that although the United States was widely recognized as the global leader in the field of AI, China was catching up with the United States. Goldman Sachs believed that China had the upper hand in four key areas for developing AI: talents, data, infrastructure and computing power.

  Meanwhile, China has taken the development of AI as a strategic priority in the government’s agenda. The New Generation of Artificial Intelligence Development Plan issued by the State Council in 2017 stated that, AI in China would drive relevant industries and create a market that is 1 trillion yuan in size, and China’s AI technology and application will reach the advanced level of the world as a whole by 2030.

  “China has the densest and largest population of mobile phone users and Internet users in the world, and digital technology has been widely applied in various fields, so it can be asserted that China offers a perfect scenario for the application of AI.” Ran Yang, Chief AI Scientist of NCF Group, told the reporter.

  In Ran Yang’s opinion, the application of AI can enable further considerable increase in efficiency and overtaking in this field. Golaxy, which is to have a match with Ke Jie, can provide a convincing demonstration for China’s rapid development in AI.

  AI’s application in multiple scenarios is enhanced by porting of Go algorithms

  The 2017 White Paper on the Development of New Generation of Artificial Intelligence prepared by the Artificial Intelligence Laboratory of the Research and Consulting Centre, Chinese Institute of Electronics, stated that the application tier of AI mainly includes intelligent robots, intelligent finance, intelligent health care, intelligent security, intelligent driving, intelligent search, intelligent education, intelligent manufacturing system and intelligent human settlement. It was projected that the global market for the application tier of AI would reach 67.2 billion dollars in size and that in China would exceed 11 billion dollars in size by 2020.

  So many scenarios and so huge industrial demand will give impetus to high technology companies in China to devote themselves to AI. This cooperation between NCF Group and Golaxy Go is designed for practical application of AI by porting the Golaxy’s AI algorithms to these scenarios.

  Jin Xing, President of Golaxy Go Culture Communication Ltd, told the reporter, “Being fairly complicated and easily comparable, Go AI becomes a representative AI algorithm. If the deep learning technology in Go AI is ported to other scenarios, our work and life might be changed, and our efficiencies can be greatly improved. ”

  AlphaGo is taken as an example. In July 2016, the AlphaGo team has reduced the overall power consumption on Google’s data centres by 15%, with the amount of energy for cooling reduced by 40%; in March 2017, an automatic lip reading system built with the said algorithm won an overwhelming 50%-12% victory over a human expert on lip reading; in November 2017, a great breakthrough was achieved in applying the algorithm to early breast cancer detection and the technology has been successfully used in clinical practice.

  At present, people have applied in the AI algorithm for Go in automatic lip reading, early breast cancer detection, research of protein folding, analysis of medical images, gene sequencing and robo-advisor. According to Ran Yang, in NCF Group, it is NCF AI Laboratory that first initiated exploration of AI. The laboratory's businesses cover data acquisition, processing and product realization of AI, and application of AI in various business divisions of NCF Group. Besides, NCF AI Laboratory has four major functions: AI incubator, AI accelerator, AI open platform and AI connector, which jointly constitute the AI distribution of NCF Group.

  This strategic partnership between NCF Group and Golaxy Go is a cooperation between giants, namely, the advanced Golaxy’s algorithms, which boast fitness to scenarios and elaborate data systems, is combined with NCF Group's extensive experience in various fields of financial technology. Ran Yang revealed that the two parties will cooperate more closely in exploring in the fields of health care, finance, energy, risk management and life services, to form core competitiveness comparable to international level, empower partners inside or outside the ecosystem with AI, and pursue innovative application of AI in risk management, anti-fraud practice, precise customer acquisition and marketing.

  According to the 2017 White Paper on the Development of New Generation of Artificial Intelligence, China’s investment in artificial intelligence has amounted to 1.03 billion dollars until 2017, and is expected to increase to 1.54 billion dollars by 2020.It can be foreseen that spurred by capitals, China’s artificial intelligence industry will usher in a rapid development stage.

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