Idea lab to boost AI finance

Changning-based fintech company CraiditX reached an agreement with management consulting firm CTO Labs on September 28 to jointly establish IDEA CraiditX Computational Finance Lab focusing on AI finance.

Zhu Mingjie, founder of CraiditX, highly praised Changning’s excellent business environment that have provided valuable fertile ground for science and technology enterprises in technology implementation and achievement transformation.

The establishment of IDEA CraiditX Computational Finance Lab integrates the advantages of Shanghai, Guangdong, Hong Kong and Macau as financial centers and innovation high grounds, so that the world’s top computing power and talent potential can radiate wider areas, so as to achieve the goal of targeted innovation technology and industrial digitization to a higher level, said Zhu.

In the next stage, the two companies will work together to promote the digital transformation and application in the financial field, carry out research in the fields of large-scale image processing, cognitive models, and privacy of federated learning, according to Zhu.

Changning plans to introduce more artificial intelligence companies in the next five years. 

The district provides customized services and preferential policies to attract leading enterprises and “dark horses” in AI industry during the period of 14th Five-Year Plan (2021-2025). 

Changning government has established strategic ties with Huawei Technologies Co and China Unicom Shanghai to jointly build Hongqiao Smart Valley. 

More than 200 artificial intelligence companies have launched their businesses in Changning, including Shenzhen listed iFlytek and a number of rising stars in industry, such as DeepBlue Technology, Westwell Lab, Tigerobo and CraiditX.

Editor：Li Xinran Shanghai Daily