Regarding "AI + Investment Advisor", Jufang Zhitou has launched two new products.
The just-passed year of 2024 was a highly significant one for China's securities industry -
The booming 924 market trend has attracted a large number of new forces to the Chinese stock market. In October 2024, about more than 1 million new investors were added, exceeding the total increase in the previous half year.
This is both an opportunity and a challenge. China's securities market is already rather complex, with a mixture of new and old investors, which also means that investment demands have become more diverse. There are more than 200 million individual investors in the Chinese market, and the investor pools in different stages and fields are filled with various non-standard investment demands.
Facing such a highly individualized matter as investment, two years after the outbreak of the Generative AI (AIGC) technology, how AI empowers the securities industry has become a new proposition.
Recently, Jiufang Zhitou, with its new products "Jiufang Lingxi" and "Jiufang Zhiyan" as the entry points, has enabled the "Financial Information Officer" and the "Financial Steward" to be installed in users' smart devices, promoting the securities industry to take another step forward in AI+.
Jiufang Zhitou is a brand under Jiufang Zhitou Holdings (9636.HK). As an online investment decision-making solution provider, it has been focusing on the online investor content service market for many years.
On January 9, 2025, Jiufang Zhitou held a digital intelligence new product launch in Shanghai, releasing the "Easy to Understand Stock Market" Leading Edition, Jiufang Lingxi, and Jiufang Zhiyan. These three digital intelligence new products demonstrated Jiufang Zhitou's latest innovative research and development application achievements to the market and investors, aiming to further assist users in improving their knowledge system, building an investment framework, and enhancing investment research efficiency and investment capabilities.
Since the outbreak of the AIGC technology, like all other industry participants, Jiufang Zhitou has also been thinking about how to better protect investors' "money bags" in the trend of increasingly blurred data and technology.
01 Beyond Simple Intelligence
Intelligent investment advisors refer to a service model that uses advanced information technologies such as big data, cloud computing, and artificial intelligence. According to factors such as investors' risk preferences, financial situations, and investment goals, it uses asset allocation models to match the optimal investment portfolio for investors to choose and make decisions.
Although the intelligent investment advisor industry originated in the United States, the 2008 financial crisis in the United States had a huge impact on the US financial market, leading to a significant decline in the trust of traditional investment advisors by a large number of investors. At the same time, they were seeking more efficient and low-cost investment methods.
If you still remember, the success of the two fintech companies, Betterment and Wealthfront, attracted a lot of attention from capital and entrepreneurs. In China, a group of emerging financial technology companies also joined in.
Looking back at the development of intelligent investment advisors in China, a key time node is 2019. On October 25 of that year, the China Securities Regulatory Commission issued the "Notice on Doing a Good Job in the Pilot Work of Public Offering Securities Investment Fund Investment Advisor Business", and the pilot of public offering fund investment advisor business was implemented.
As of July 2022, a total of 60 institutions have obtained the pilot qualification for fund investment advisors, including 25 funds and fund subsidiaries, 29 securities companies, 3 third-party sales institutions, and 3 commercial banks.
Jiufang Zhitou is one of the first batch of institutions in China to obtain the qualification for securities investment consultation. In 2019, Jiufang Zhitou attempted conversational AI technology in the securities field, launched the text conversation robot "AI Wangcai", and released the AI products "Intelligent Conversation Recommendation" and "AI Compliance Assistant".
Embracing technology is the collective consensus of the securities industry. Especially with the outbreak of the GPT technology, the market has begun to realize that with the development of AI technology, can intelligent investment advisors become more considerate?
Before the outbreak of artificial intelligence represented by chatGPT and large models, the intelligent investment advisor industry has been trapped in the limitations of relatively simple algorithm models, limited natural language processing capabilities, and insufficient data analysis capabilities. To put it plainly, everyone uses similar market data and similar formulas, making it difficult to achieve differentiated competition.
Now, after the development of big data training, through the logic of "violent miracles", the "trained" intelligent investment advisors are more capable of automatically screening out suitable investment portfolios based on factors such as users' investment preferences and risk tolerance. At the same time, intelligent investment advisors can also analyze and predict market trends to provide investors with more accurate investment advice.
Technical capabilities are one aspect, and database capabilities are another important fuel. Only by accumulating a large number of customer resources and continuously listening to their needs can we truly solve the "questions and doubts" of investors.
Since the outbreak of the Chinese large model market, the intelligent agent believes that it has fired the "first shot" of commercialization. Jiufang Zhitou, which has been committed to AI+, will naturally not miss such an opportunity.
Li Hongguang is the head of the AI project department of Jiufang Zhitou. He found that the traditional intelligent investment advisor assistants mainly have three typical problems: insufficient intelligence level, lack of professionalism, and poor interactive experience.
With the in-depth development of AI technology, he sees the dawn of changing these pain points.
The Jiufang Lingxi developed by him and his team is a financial conversation intelligent agent in the field of intelligent investment advisors based on the FinSphere, a large model in the Jiuzhang securities field. It has the capabilities of independent thinking chain decision reasoning, tool invocation, user memory construction and enhancement, and graphic and text response.
In terms of intelligent experience, Jiufang Lingxi uses intelligent agent technology to conduct thinking chain logic analysis of problems, intelligently access structured and multi-source heterogeneous data, conduct multi-semantic understanding based on short-term memory, conduct personalized responses based on long-term memory, and output multimodal content with both graphics and text, bringing more intelligent and personalized investment advisor assistant service experiences to investors.
In terms of intelligent investment advisors, based on Jiufang Zhitou's professional investment research knowledge database, Jiufang Lingxi conducts in-depth interpretations of the market and provides investors with professional stock diagnosis and in-depth comprehensive analysis, market sector index analysis, information news, financial investment education, and investment advisor services for compliance and risk management.
The final delivery of the product is often the result of implementing the corporate spirit and conveying the corporate philosophy. Chen Wenbin, the Chairman of the Board of Directors of Jiufang Intelligent Holdings, previously mentioned that one of the unique capabilities of AI is to solve users' "personalized needs and emotional needs". " In the Internet field, once it involves personalization, the cost will rise sharply and cannot be covered by a normal cost."
Chen Wenbin said, " Based on some data and experience formed from our long-term service to so many customers in the past, if we can better refine and summarize these experiences and use our standardized things to deal with personalization, then in our system, we are a standardized and systematic operation to provide customers with a personalized and warm service."
02 The "AI Content" is Continuously Upgraded
The traditional investment advisors are going digital, and what the intelligent investment advisors need to do is to "reduce the human labor"; in the AI era, what the intelligent investment advisors need to do is to be more humanized and have more "human touch".
From the exploration directions of "Jiufang Lingxi" and "Jiufang Zhiyan", the industry trend is the application ability of deep learning based on big data and cloud computing, and it has begun to attempt to develop an artificial intelligence investment system that can completely separate from human participation in the investment management chain.
Let's first take a look at the intelligent points of these two products -
The new-generation conversational stock investment assistant "Jiufang Lingxi" provides three major functions: basic financial knowledge Q&A driven by Jiufang intelligent agent technology, professional financial analysis, and comprehensive stock diagnosis. Compared with the previous generation Jiuge 1.0, it has greatly improved the user experience and provides 7*24 graphic and text interaction experiences in the financial scene for stock investors.
The new one-stop intelligent investment research platform "Jiufang Zhiyan" is a platform that realizes efficient and automated industry information analysis report generation, reading, and intelligent interaction for industries and companies, improving the investment research efficiency and level of stock investors and researchers.
On "Jiufang Lingxi", users can learn investment knowledge, analyze market trends, and conduct stock trend diagnoses.
On "Jiufang Zhiyan", users can learn more than 160 sets of self-developed stock courses through the industry's first stock learning machine "Easy to Understand Stock Market", with a cumulative class time of more than 1000 hours. Through AI intelligent recommendation and nine-dimensional courses, they can build their own investment logic and system.
Easy to Understand Stock Market was born on July 25, 2024, and the initial version is the "Sailing Edition". Just 168 days later, a new and upgraded Leading Edition was launched.
How high is the "AI content" of the Easy to Understand Stock Market Leading Edition? As an AI analysis assistant, the intelligent investment advisor Xiaojiu helps users achieve more efficient and more accurate market self-selection and technical indicators.
In the Chinese stock market, the market value held by retail investors has reached 25 trillion in circulating market value, accounting for nearly one-third. However, compared with institutional investors, the investment success rate of many retail investors is relatively low.
In response to this situation, Cheng Weixi, the general manager of Jiufang Zhitou and the person in charge of the learning machine project, summarized several reasons. "First, retail investors' understanding of the market is one-sided. Second, their professional ability is insufficient. Third, it is relatively difficult to obtain effective and timely information. Fourth, the analysis tools are lacking. Fifth, our decision-making logic is incomplete."
Only by equipping oneself with good weapons can one be better prepared to enter the battlefield. How can retail investors equip themselves? Cheng Wei believes that
The upgraded Easy to Understand Stock Market is like a "hexagonal warrior", covering courses, information, live broadcasts, market trends, tools, and trading perspectives, solving the vast majority of the daily stock trading needs of retail investors, and is a great "weapon".
Essentially, Jiufang Zhitou wins by "comprehensive technical scores", and it needs the entire system including technology, scenarios, and customers as support.
Specifically, in terms of technology, it relies on the Huawei Cloud AI computing power cloud platform base to provide stable and reliable AI computing power. At the same time, it relies on the "Spark Cognitive Large Model" of iFLYTEK.
In terms of product strength, it combines the company's eight characteristic knowledge bases that have been accumulated over the years, including massive macro policies, economic data, market data, business data, research reports, information news, company announcements, and laws and regulations. These knowledge bases continue to empower the products such as the Jiufang Zhitou APP and the Jiufang Zhitou Stock Learning Machine, while continuously exploring the empowerment and optimization of the six business scenarios of investment advisor, investment research, customer service, compliance, risk control, and marketing in the securities industry.
The Chinese securities market is inherently complex. In addition to a high "AI content", only investment advisor products that understand the market and users can survive.
As a part of Jiufang Zhitou Holdings (9636.HK), Jiufang Zhitou also always adheres to the emphasis on the "technology + investment research" dual-wheel drive strategy, maintaining significant advantages in technological innovation, user experience, and solving pain points.