2020 World Artificial Intelligence Conference Report
Although Bank of China’s mobile banking app is iterating rapidly, and the latest version already can make personalized recommendations for thousands of people, few people knew that a new generation AI company — APEX Technologies — in Shanghai is providing artificial intelligence marketing solutions for this purpose, which can dramatically improve the efficiency of its services through the addition of AI model solutions.
Shanghai has become the world’s most successful international financial center, with the highest concentration of financial factor markets and the best infrastructure. It is a “shopping paradise” with first stores and first launches attracting global brands to compete with each other. The city’s industrial tone also provides the best scenario for AI companies to start and develop their products.
The city has one of the largest application scenes and testing grounds for AI technology. Shanghai can provide many circumstances where this technology can realize its value. In the past three years, the number of new generation AI enterprises taking off in Shanghai grew rapidly. Most of them are centered around finance, retail, transportation and other industries. Long story short: AI is entering a new stage of industrial integration and development here in Shanghai it seems.
In 2019, APEX Technologies was selected from more than 1,500 projects across China to be included in Phase 3 of the Tencent AI Accelerator. This company launched the first intelligent CDP (Customer Data Platform) solution in China to put “AI wings” on marketing.
Putting AI into the context of the industrial Internet means that it needs to be linked to industrial transformation and development, creating a better life, optimizing the city and the environment. Shanghai has a clear advantage in the large consumer sector, and the potential for AI to merge with the current industrial applications is large — this is also what attracted a lot of bright minds to come to Shanghai.
Spring Airlines, which has 100 million passengers and more than 30 million members, wanted to dig deeper into its consumer potential and found APEX Technologies. APEX Technologies then came up with a set of AI models designed to deliver accurate marketing information by predicting where Spring Airlines members will go in the next seven days. After applying the AI algorithm, Spring Airlines’ purchase conversion rate increased 10 times, while the model’s prediction accuracy reached 98.5%.
Sometimes the combination of AI and real industry needs a little patience. A number of enterprise founders said they were very impressed by Shanghai’s industrial base and talent advantage. Although there are only a little more than 100 employees at Apex Technologies, 70% of them are technical staff says Tiger Yang, the president of the company. One fifth of the employees have studied overseas and accumulated work experience in AI and big data applications. According to a recent report, one third of the country’s AI talent is already concentrated in Shanghai. Artificial intelligence research is actively providing breakthroughs for real life use in a number of in-depth application scenarios. Startups too are looking forward to Shanghai’s next decade to accelerate the whole industry and build a solid technological base.
Originally published in Chinese here: Original source article
About APEX Technologies
APEX Technologies provides an enterprise customer data technology solution that helps marketers connect, unify, analyze, and activate their customer data.