HONG KONG — Ant International launched an upgraded version of its artificial intelligence (AI) model on Thursday, signing up major global banks as financial institutions accelerate the adoption of specialized AI to manage liquidity risks.
The Singapore-based fintech giant rolled out its Falcon Time-Series Transformer (TST) Model 2.0 and has partnered with six large banks including Citi, HSBC, Deutsche Bank, Standard Chartered and Barclays, according to Kelvin Li, the firm’s general manager of platform tech.The FalconTST 2.0 model features state-of-the-art performance on the mean absolute scaled error (metric), one of the most critical metrics used to evaluate time-series models.Traditional forecasting systems usually build separate models for different tasks. The FalsonTST model looks at common patterns like cycles, trends, sudden shifts and seasonality from data like finance, energy and retail.The launch comes amid an accelerating global race among financial institutions to embed AI into their core operations.Li said the model specializes in financial scenarios and has an edge over general-purpose large models, which have “yet to achieve a universal breakthrough in the financial sector.”“Precise forecasting can slash foreign exchange hedging and allocation costs by over 60 percent,” Li said.Ant International, an overseas affiliate of the Jack Ma-founded Chinese fintech firm Ant Group, raised $1.2 billion last month in its latest equity fundraising as it seeks to expand.
