Bairong Inc.’s CEO Zhang Shaofeng Presents at the UBS Asia Investment Conference

Hongkong, China, On May 28, 2024, Zhang Shaofeng, the founder and CEO of Bairong Inc. (“Bairong” or the “Company”; HKEX: 6608) attended the UBS Asia Investment Conference as a panel speaker. Mr.  Zhang shared his insights on empowering China's new economic cycle with AI and digitalization.

Zhang Shaofeng remarked, "From the perspective of economic development, regardless of driving forces or constraints, and regardless of changes in production relationships and industry structures, all sectors urgently need tech service providers to enable digital transformation through AI technology." He illustrated his point by saying, "Some institutions' customer managers oversee more than 800 clients. Without AI assistance, they might struggle to manage even 80 clients effectively. By leveraging AI to serve the majority of clients, managers can allocate their focus to high-net-worth private clients. Thus, AI not only enhances service quality but also generates revenue for institutions. Moreover, AI can significantly reduce costs in risk assessment, fraud prevention, and claims management."

In response to industry demands, over its ten-year journey, Bairong has dedicated itself to AI research, continuously advancing technological innovation. The company adheres to using AI in two key areas: first, identifying user risks through decision-making AI's machine learning algorithms to facilitate KYC (Know Your Customer) and KYP (Know Your Product). Second, creating incremental value by providing end-to-end solutions integrating decision-making AI and generative AI technologies tailored to specific vertical industry processes and needs, translating into operational asset results. In 2023, Bairong developed scenario-driven industrial large models – BR-LLMs based on the Transformer framework, incorporating NLP (Natural Language Processing), smart voice technologies, and has independently constructed a comprehensive tech stack including large model pre-training, fine-tuning, inference engineering optimization, and application development kits.

"Competition among Chinese companies is fierce," Zhang Shaofeng stated. "Bairong stood out from over 200 peers at its inception, thanks to continuous investment in AI technology and a profound understanding of various industries. By leveraging extensive machine learning and algorithms, we aid institutions in making digital decisions, determining which products or services best suit customers, and employing AIGC (Artificial Intelligence Generated Content) to enhance user engagement and boost corporate KPIs. While GPT-4o's launch has drawn attention to voice interactions, Bairong has been developing AI-powered smart voice for over four years. Our in-house Voice GPT handles 30 million phone interactions daily, with weekly updates to smart voice and callback AI technologies. The rapid iteration of Chinese AI enterprises like ours leads globally."

During the forum, Zhang demonstrated Bairong's Voice GPT, highlighting capabilities such as sub-500 millisecond response times, seamless multi-turn conversations in a human-like voice, and semantic understanding accuracy above 95%. It's reported that Voice GPT's call handling capacity has reached four times that of manual operations.

To date, Bairong serves over 7,000 commercial institutions across multiple sectors, including banking, insurance, e-commerce, automotive, logistics, ticketing, energy, and construction. The non-financial and insurance client base has expanded to over 2,000.

About Bairong Inc.

Bairong Inc. is a leading artificial intelligence (AI) technology services company. The Company applies natural language processing (NLP), privacy computing, machine learning, cloud computing and other technologies to provide services to enterprises through model-as-a-service (MaaS) and business-as-a-service (BaaS). The MaaS services leverage discriminant AI to digitalize the know-your-customer (KYC) and know-your-product (KYP) process for enterprises, by analyzing users’ risk, willingness, and capability. The BaaS services use discriminant AI to analyze and stratify users into groups, and develops generative AI-powered voicebots using human natural languages to interact with users. The Company’s products and services are widely used by enterprise customers in banking, consumer finance, insurance, e-commerce, automobiles, logistics, ticketing, energy, construction and other industries.

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