Abstract
The capital management demand in China is expanding, and the preference for equity assets has increased.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Notes
- 1.
Refer to https://chinaplus.cri.cn/chinaplus/news/china/9/20181031/203609.html. According to Du et al. (2023), AI chip is critical for the development of AI industry, while China’s AI chip technology is still in the primary stage, breakthrough of AI chip technology bottleneck requires advancement in core technology, industrial chain, and commercial application. In addition, related entities in China were slow to develop AI ethics frameworks (Lee 2018; Hickert and Ding 2018) before 2019, while there was a surge in attempts to define ethical principles since 2019 (Roberts et al. 2021). For example, China’s Ministry of Science and Technology established the National New Generation Artificial Intelligence Governance Expert Committee in March 2019, and the committee released eight principles for the governance of AI in June 2019.
- 2.
Three-Year Action Plan for Promoting the Development of a New Generation of AI Industries (2018–2020), Ministry of Industry and Information Technology Official Website, 2017.
- 3.
In September 2023, Tencent debuts its large language artificial intelligence model “Hunyuan”, which is similar in power and capabilities to GPT-3 and available for enterprise use in China.
- 4.
A brief description of public strategies for supporting AI in Germany and Hessen could be found in Bredt (2019).
- 5.
For example, internal and external market information, research activities, research reports, stock rating changes, earnings forecast changes, simulation portfolio changes, enterprise intrinsic value, research minutes.
- 6.
For example, announcements, research reports, contracts, financial reports, legal documents, bills, documents, operation reports.
- 7.
There is a lack of the macroeconomic situation, information in the industry, real-time public opinion and other multi-dimensional information.
- 8.
References
Astebro TB. An inside peek at AI use in private equity. J Financ Data Sci. 2021;3(3):97–107. https://doi.org/10.3905/jfds.2021.1.067.
Ba SS, Qiong Y, Zhou G et al. China Asset Management Industry Development Report; 2020.
Bredt S. Artificial intelligence (AI) in the financial sector—potential and public strategies. Front Artif Intell. 2019;2:16.
Cao S, Jiang W, Yang BZ, Zhang AL. How to talk when a machine is listening?: Corporate disclosure in the age of AI. NBER Working Paper 27950; 2022.
Dawei Z, Qiyan H. Application and development of artificial intelligence technology in private equity investment industry. Western Finance. 2022;9:19–23. https://doi.org/10.16395/j.cnki.61-1462/f.2022.09.015. (in Chinese).
Du CL, Wang TZ, Wang CW. The development status, challenges and countermeasures of artificial intelligence chip technology in China under the digital economy. Sci Technol Manage Res. 2023;12:1–10 (in Chinese).
Financial Stability Board. Artificial intelligence and machine learning in financial services market developments and financial stability implications; 2017. https://www.fsb.org/2017/11/artificial-intelligence-and-machine-learning-in-financial-service/.
Guo XY, Liu WB, Qian Y. Status of artificial intelligence industry and technology development in China. Qual Certification. 2023;4:46–8. https://doi.org/10.16691/j.cnki.10-1214/t.2023.04.00. (in Chinese).
Haenlein M, Kaplan A. A brief history of artificial intelligence: on the past, present, and future of artificial intelligence. Calif Manage Rev. 2019;61(4):5–14.
Hickert C, Ding J. Read what top Chinese ofcials are hearing about AI competition and policy. New America; 2018. https://www.newamerica.org/cybersecurity-initiative/digichina/blog/read-what-top-chinese-officials-are-hearing-about-ai-competition-and-policy/.
Lee KF. AI superpowers: China, silicon valley, and the new world order. Boston: Houghton Mifin Harcourt; 2018.
Li Y, Zhang XJ. China’s national balance sheet 2020. Beijing: China Social Sciences Press; 2021.
Qichacha Finance. ChatGPT triggers AI boom! Annual registration growth rate of domestic AI-related enterprises has been positive for 9 consecutive years [EB/OL]; 2023. 07 Feb 2023. https://baijiahao.baidu.com/s?id=1757139730742010625&wfr=spider&for=pc. (in Chinese).
Roberts H, Cowls J, Morley J, Taddeo M, Wang V, Floridi L. The Chinese approach to artificial intelligence: an analysis of policy, ethics, and regulation. AI & Soc. 2021;36:59–77.
Shenzhen Artificial Intelligence Industry Association. The white book on the development of artificial intelligence in 2022; 2022. http://www.saiia.org.cn/index.php/hangyebaipishu/. (in Chinese).
Wang QX. Research on the investor protection system of smart investment under the new “Securities Law.” J Fujian Univ Financ Manage. 2021;4:27–34 (in Chinese).
Wang SH, Ma RG. The construction of the black box supervision system of the intelligent investment advisory algorithm in the context of financial data security. Soc Sci. 2022;2:86–95 (in Chinese).
Xu RH, Zhao DW. Develop artificial intelligence technology to crack the pain points of the securities industry. Tsinghua Financ Rev. 2020;8:89–92. https://doi.org/10.19409/j.cnki.thf-review.2020.08.026. (in Chinese).
Zhang S, Yao LN, Sun AX et al. Deep learning based recommender system: a survey and new perspectives. ACM Comput Surv. 2017; 52(1). https://doi.org/10.1145/3285029
Zhao DW, Li JQ. Intelligent finance era. Beijing: People’s Daily Press; 2021. (in Chinese).
Zheng XL, Zhu MY, Li QB, Chen CC, Tan YC. FinBrain: when finance meets AI 2.0. Front Inform Technol Electron Eng. 2019; 20(7): 914–24.
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
Copyright information
© 2023 The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.
About this chapter
Cite this chapter
Xu, R., Zhao, D. (2023). Status and Development Trend of Artificial Intelligence Application in the Private Equity Industry. In: Digital Transformation of Private Equity in China. Contributions to Finance and Accounting. Springer, Singapore. https://doi.org/10.1007/978-981-99-8482-4_8
Download citation
DOI: https://doi.org/10.1007/978-981-99-8482-4_8
Published:
Publisher Name: Springer, Singapore
Print ISBN: 978-981-99-8481-7
Online ISBN: 978-981-99-8482-4
eBook Packages: Economics and FinanceEconomics and Finance (R0)