How does technology reshape the new format of financial services? KPMG China summarized these nine trends.

At present, the rapid penetration of a new generation of information technology in various industries is the general trend, and the financial industry is the most important. Financial services have gradually evolved in the innovation and development of financial technology, which has opened a new situation of digital transformation and gradually become a new engine to promote the transformation and upgrading of the whole industry and the whole industrial chain.
The newly released KPMG China Double 50 list of financial technology enterprises in 2023 and the annual trend report integrate the industry empowerment resources, sort out the strategic advantages of special fields, and emphasize the development trend of inclusive finance from "integration of numbers and reality" to "symbiosis of numbers and reality", which provides multi-faceted reference and support for the prosperity of China’s financial technology industry and promotes the construction of China’s financial technology ecosystem.
Huang Aizhou, managing partner of KPMG China Financial Technology, said that in the process of digital transformation of the financial industry, there are unique advantages compared with other industries in the three pillars: algorithm, computing power and data, which are needed for the vertical model of the industry to land. Among them, the data determines the intelligent scope of the big model, and the financial industry has mastered a large number of historical data and written materials, which provides natural convenience for the development of the big model of the industry; Financial technology enterprises have also formed their own unique solutions in the process of financial digitalization and intelligence in terms of algorithms and computing power. It is expected that as the bottom big model changes from increment to stock stage, fighting for quality and landing will become the focus of competition, and the competitive advantage of enterprises on the reasoning side of the force model will be further revealed.
The report analyzes and summarizes the listed enterprises in five dimensions: professional field, city and region, main technical elements, proportion of technical personnel and establishment time.
In addition, the report also introduces in detail the development trend and future development layout of financial technology in 2023.
Trend 1: The development of financial macro-model will have a far-reaching impact on the paradigm of financial technology industry (annual trend). In the era of mobile Internet, China’s financial technology has made numerous innovations in mobile payment, digital credit and other fields, leading the world. Domestic manufacturers are actively developing the layout of large financial models, and relevant enterprises need to build competitive advantages by "having data" and "understanding scenarios". The wide application of the future financial big model will have a subversive impact on the current industry paradigm in the following aspects: the change of AI cognition and concept, reshaping customer service process and experience, improving risk management, improving financial service efficiency and innovating financial business forms.
Trend 2: Science and technology investment pays more attention to output energy efficiency, and peer-to-peer science and technology output changes to ecological empowerment mode (integrated financial technology). Comprehensive financial technology enterprises actively embrace the new round of scientific and technological development opportunities brought by the big model by virtue of their scientific and technological advantages and innate financial industry genes. On the one hand, we continue to increase investment in science and technology, but pay more attention to business orientation and precise focus in objectives and methods; On the other hand, it continues to export scientific and technological capabilities to its peers, and the service direction has changed from traditional technical empowerment to all-round ecological empowerment.
Trend 3: AI helps to innovate wealth management, and the core system of the organization is autonomous and accelerated (wealth technology). Since the end of 2022, the explosive development of AIGC has brought great imagination to the financial industry. Wealth technology companies apply their accumulated data and experience in the field of AI application to the training of financial big models, providing support for wealth management business scenarios such as investment, research and marketing. It is expected that with the maturity of AIGC technology, wealth management institutions will explore more application scenarios of the big model to improve efficiency and service upgrade; At the same time, AIGC still needs to be cautious in providing investment advice to customers directly, due to unclear relevant supervision and data security and data privacy issues. On the other hand, wealth technology enterprises actively provide the latest technical solutions for large and medium-sized wealth management institutions, and gradually improve the efficiency, stability and autonomy of the core system through the modularization and decentralization of distributed technology.
Trend 4: Insurance technology has evolved into risk reduction management, and the service boundary (insurance technology) has been continuously expanded in combination with industrial upgrading. At present, the principle of risk management in insurance industry has gradually evolved from equal risk management to risk reduction management. On the one hand, relying on the wide application of new technologies, insurance technology companies will transform the original uninsurable risks into insurable risks, and relax the original restrictive underwriting conditions to comprehensive underwriting, which will create a broader insurance market space. On the other hand, technology no longer depends on insurance, but penetrates into the development process of all walks of life, and in the process of development, new risk management demands are derived, and the service boundary of insurance technology is continuously expanded by combining with industrial upgrading.
Trend 5: Digital symbiosis and digital platform services accelerate the development of inclusive finance (Pratt & Whitney Technology). The symbiosis of number and reality will accelerate the development of inclusive finance, thus achieving the high-quality development goals of inclusive finance, such as more popular basic financial services and more convenient financing for business entities. In addition, through the digital service platform, small and medium-sized enterprises can widely access digital resources, build digital intelligent business processes, meet the ever-changing market demand, and accelerate the digital intelligent transformation of small and medium-sized enterprises.
Trend 6: Multi-parties join hands to expand the new blue ocean of supply chain finance, and scene product innovation is emerging (supply chain technology). With the vigorous development of digital economy, the digital penetration rate of supply chain finance has gradually increased. The supply chain science and technology platform has accelerated its efforts in the scene business. It is expected that there will be more scene-based innovative products based on data credit in the future, and the traditional confirmation mode will begin to weaken. In addition, many large enterprise groups have responded to the policy call and accelerated the pace of building a supply chain platform; Financial institutions also pay more attention to cooperation with core enterprises and high-quality supply chain technology third-party platforms.
Trend 7: Mobile payment innovation scenario application, cross-border payment opens up a new chapter in the sea (payment technology). From the C side, the third-party payment platform expands its business by exploring new scenes and product innovation; From the B side, the mobile payment platform is empowered based on the payment function and provides integrated services. In addition, the cross-border payment platform not only provides payment services for customers, but also provides services such as foreign exchange and foreign exchange risk management for enterprises, as well as services such as platform opening, global acquiring, overseas marketing and supply chain financing, so as to provide customers with comprehensive services to enhance customer stickiness.
Trend 8: Regulatory technology is expected to improve regulatory efficiency with the help of large models (regulatory technology). The rapid development of emerging technologies such as AIGC provides imagination for the development of financial supervision technology, and the development of supervision technology will increasingly rely on scientific and technological means to achieve more efficient and accurate supervision. At the same time, the development of regulatory technology will also promote financial technology innovation and empower the financial industry to deepen digital transformation.
Trend 9: A new round of development opportunities will be opened, and a big article on digital finance (platform technology empowerment) will be done with the tide. At the present stage, the trends of innovation and going out to sea are highly certain, and actions such as "data elements ×" and "high-quality development of computing infrastructure" have been steadily promoted, which coincides with the opportunity of technological change brought by the big financial model and generative AI, and is expected to drive the sustained release of China’s financial technology value, further affect the global market and help the high-quality development of digital finance.
Author: Tang Weijie
Text: Tang Weijie Photo: Information Photo Editor: Shang Hui Editor: Rong Bing
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Stir-fry tea and plant medicine … Yunnan primary and secondary schools skillfully play the "ecological" card to empower students to grow.

  The school not only has a tea garden, but also a tea frying machine for students to experience tea frying; In addition to beautiful gardens, there are also Chinese herbal medicine gardens on campus, listing different kinds of Chinese herbal medicines and offering Chinese herbal medicine planting courses … In Yunnan Province, which is famous for its biodiversity and beautiful ecology, many primary and secondary schools have set up labor practice bases with the theme of green ecology to empower students to grow.

  Walking into Longtan Central School in Longtan Township, Yuanjiang County, Yuxi City, on the hillside above the basketball court, the 4-acre tea garden is particularly eye-catching. "We not only have our own tea garden, but also have our own tea frying machine. Students especially like the labor practice of picking and frying tea." Yang Jiawen, principal of Longtan Central School, said that this course not only cultivates children’s living ability and sense of responsibility, but also brings students economic income to improve their life happiness index.

  He introduced that the school has built two brands of Chunqin Tea and Bitan Tea based on the tea garden. In 2023, it harvested more than 100 kilograms of tea, with an average income of more than 200 yuan per class. In addition, the school has also opened up plantations and breeding gardens, with classes in autonomous management. In 2023, the whole school harvested more than 200 kilograms of vegetables and sold them to the school canteen, with an average income of more than 100 yuan per class. The money is used to buy cakes for students’ birthdays and extra-curricular books.

  The picture shows the students of Longtan Central School building a vegetable plantation by themselves. Photo courtesy of Longtan Central School

  "In the past, teachers and students would go for a walk outside the school. Now, they like to stroll and talk in the small vegetable garden. While experiencing the happiness of labor, everyone relaxed their mood and harvested their own labor results. " Yang Jiawen told reporters that everyone was very happy to see that their labor brought happiness to the class.

  This exploration is inspired by Yang Jiawen’s participation in the "Ten Thousand Principals Training Program" in Yunnan Province: "In the past, some students had little enthusiasm for going to school. Through learning, I thought of building a labor practice base and establishing an ecological campus to cultivate children’s labor enthusiasm, self-care ability and sense of responsibility. "

  Coincidentally, Chunhe Street Central Primary School, located in Hongta District, Yuxi City, a "granary in central Yunnan" and a "hometown of clouds and smog", also explores the construction of ecological campus and the setting of characteristic practical courses. This township primary school at the junction of urban and rural areas has mountains and waters, covers a large area and consists of 11 complete primary schools. They strive to create a campus culture with the theme of "Spring Fun", and combine the characteristics of each campus to create a harmonious and different "Spring Fun 1+X" course.

  The picture shows "Baicaoxuan" Chinese Herbal Garden in Huangcaoba Primary School. Photo courtesy of Huangcaoba Primary School

  Hao Yong, the principal of the school and the seventh student of the "10,000 Principals Training Program" in Yunnan Province, said, for example, the Central Primary School and Longchi Primary School are close to the local water sources Feijing Reservoir and Jiulongchi respectively, and the school starts from courses and activities to guide children to care for the environment and be ecological messengers; Boarding Huangcaoba Primary School is located in the depths of the mountains, with a high coverage rate of surrounding Chinese herbal medicines. The school has opened up a piece of land, built a "Baicaoxuan" Chinese herbal medicine garden, planted different kinds of Chinese herbal medicines, and offered Chinese herbal medicine planting courses to inherit and protect Chinese herbal medicine culture.

  Bend down to see moral education, and know your hometown by loving the soil. Hao Yong said that the school pays equal attention to teaching and practice, and actively carries out natural ecological protection education, which is also a beautiful fruit of the "Ten Thousand Principals Training Program" project.

  Based on a brand-new concept and model, from September 2018 to January 2024, the project selected 10,057 young and middle-aged principals, vice principals and principal reserve cadres, and conducted 130-day off-the-job training in batches, focusing on improving the principals’ educational ideas, school-running ideas and school-running ability.

  "During the training, we listened to 40 famous lectures, read 20 professional classics, and learned many new educational concepts and teaching models." After participating in the "Ten Thousand Principals Training Program", Yang Jiawen lamented: If you don’t study, you will regress. I hope that new exploration will bring more possibilities to children’s growth. (Chen Xuelian)

Analysis of the shipment volume, market size and market competition pattern of China smart speaker industry in 2022 [Figure]

Analysis of industrial chain, market demand potential and enterprise layout of domestic smart speaker industry in 2022 [Figure]

Smart speaker, the product of a speaker upgrade, is a tool for home consumers to surf the Internet by voice, such as ordering songs, shopping online, or knowing the weather forecast. It can also control smart home devices, such as opening curtains, setting the refrigerator temperature, warming up the water heater in advance, etc.

Basic functions of intelligent speakers

Source: Collation of Common Research Network.

Intelligent speaker industry chain includes traditional acoustic-related OEM/ODM suppliers, chip suppliers, voice technology service providers, content providers and channels.

Intelligent speaker industry chain

Source: Collation of Common Research Network.

In 2019, China’s smart speaker market experienced explosive development, with the shipment of smart speakers reaching 45.89 million units, up by 109.7% year-on-year. In 2020, affected by the Covid-19 pandemic, the sales volume of smart speakers reached 36.76 million units, with a cumulative decrease of 8.6%. In 2021, the market shipment of smart speakers contracted by 2.50% year-on-year, dropping slightly to 35.841 million units.

2018-2021 China Smart Speaker Market Shipment Trend

Source: Collation of Common Research Network.

In 2021, China’s smart speaker market was 7.885 billion yuan, up by 14.99% year-on-year. With the continuous integration and improvement of intelligent speaker artificial intelligence technology, the potential of smart speaker consumption market in China will be released in the future, and the industry is expected to usher in rapid growth.

2018-2021 China Smart Speaker Market Scale Trend

Source: Collation of Common Research Network.

At present, the main functions of smart speakers in China are voice interaction, content service and home control. Voice interaction is a voice interaction technology based on voice recognition and semantic understanding, which provides a more natural man-machine interaction mode. Content service and life service are streaming media resources such as high-quality music and audiobooks, and third-party service resources such as take-out and taxi service. Home control is connected to the cloud through networking, becoming a home control center and interconnected with other smart home products. With the development of voice interaction technology, smart speaker products can not only provide content entertainment services and life services, but also connect to smart homes, realize scene intelligent control, and become the control center of smart homes. In the future, the Internet of Things will take voice as its population, resulting in a new business model.

Domestic layout smart speaker manufacturers can be divided into five categories.

Source: Collation of Common Research Network.

What is the market prospect of smart speaker industry? The 2023-2029 China Smart Speaker Market Survey and Investment Strategy Report published by Gongwang has analyzed in detail the relevant definitions of smart speaker industry, the global smart speaker industry market development status, the development environment of smart speaker industry in China, the operation of smart speaker industry in China, the monitoring of the operation data of smart speaker industry in China, the market structure of smart speaker in China, the demand characteristics and trends of smart speaker industry in China, China smart speaker industry regional market situation, China smart speaker industry competition, China smart speaker industry development prospect analysis and forecast, China smart speaker industry development strategy and investment suggestions, etc., to help enterprises and investors understand the smart speaker industry market investment value. If you want to have a systematic understanding of the smart speaker industry or invest in the smart speaker industry, this report is your indispensable and important tool.

3 high temperature day strikes! Why is Meiyu so "weird" this year?

Hangzhou next door is out of plums today. Is Shanghai this year?

Today is another day of "full heat". At 12 o’clock in the Shanghai Central Meteorological Observatory, a high -temperature yellow warning signal: Affected by the high pressure of the Western Pacific subtropical high pressure, it is expected that the highest temperature in the central urban area, Jiading, Minhang, Qingpu, Songjiang, Pudong, and Baoshan will exceed 35 ° C.

In the case of one, since June 22nd to today, there have been 3 high temperature days in Shanghai. According to the data released by the Shanghai Central Meteorological Observatory, the next week, Shencheng will also be on the edge of a subtropical high pressure. The highest temperature frequently impacts the high temperature line of 35 ° C, which is a week when the heat wave rolled.

Not only that, the good rainfall is going to "let the pigeons"! Dr. Rui Rui, the chief service officer of the Shanghai Meteorological Bureau, said that at present, the rain belt of Jiangnan will be lifted north next week, and the distance between the north is still very high. I am afraid that the rainfall next week will drift away again.

Why is Meiyu so "weird" this year? High temperature+rainy rain, is it the legendary "dry yellow plum"? In fact, in meteorology, there is no saying of "dry Huangmei". Similarly, the nouns such as "plum" and "empty plum". Wu Rui explained that this year’s Meiyu is "atypical Meiyu". Because the Jiangnan rain belt this year is relatively south, Shanghai is on the edge of the rain belt during this time. Over the city, Shencheng came to the control of the subtropical high pressure, and it was sunny and hot.

In the sense of meteorology, there is no "dry Huangmei", only "withered plum" and "empty plum". Wu Rui introduced that "withered plum" refers to the rainy date and the amount of precipitation on the rainy day, and when the rainfall is more than half lower than in previous years, it is called "withered plum"; Few, only a few times.

Hangzhou next door has announced that Mei has been announced today, so when will the "atypical Meiyu" in Shanghai go this year? Is it "dry plum" or "Kongmei" this year? It is also necessary to wait for the subsequent rain belt to judge again.

But it is certain that high temperature will last for a while. According to predictions, the lowest temperature next Monday and two cities will start from 28 ° C, and the maximum temperature will reach 35 ° C.