Ant Group, the fintech affiliate of Chinese conglomerate Alibaba Group, has received approval from the Chinese government to offer artificial intelligence or AI products to the public, reports said.<\/p>\n
The company plans to roll out multiple products built on its own Bailing large language model or LLM, a deep learning algorithm that can perform a variety of natural language processing tasks. <\/p>\n
As per reports, Bailing will also be used across the company’s various operations with a view to developing more innovative AI products.<\/p>\n
In China, companies are required to submit security assessments and receive clearance before releasing AI products to the public.<\/p>\n
Ant’s Vice President Xu Peng, who oversees Bailing, reportedly said the company expects to release more AI applications to the public based on its development of innovative products across vertical industries.<\/p>\n
In September, Ant unveiled a finance-specific AI model and started testing consumer and professional apps for the products. The company launched its own LLM and a new Web3 brand.<\/p>\n