BEIJING, June 6, 2024
/PRNewswire/ -- When identifying a unicorn in the AI sector,
consider this: focus on businesses with stable cash flow that can
pivot to AI-powered innovations and have the potential to redefine
their market categories. That's the approach highlighted by
Mr. Huang Jingsheng, a celebrated investment veteran, former
managing executive director at the Harvard Center Shanghai and
board director of Yiren Digital, at the GenAI Summit San Francisco
2024.
Yiren Digital (NYSE: YRD), an AI-powered platform providing a
comprehensive suite of financial and lifestyle services in
China, earned its second
consecutive invitation to the GenAI Summit. Showcasing its latest
tech innovations and AI applications, the company solidified its
position as a trailblazer in the AI and fintech sector. Mr. Huang
Jingsheng, who has decades of investment expertise, took the stage
to discuss AI investment strategies in a panel titled "Identify
Unicorns: How can VCs spot the next big thing in GenAI."
"The first consideration is whether the company is inherently
geared towards leveraging the best technology, including being
tech-savvy and having a top-tier team. Secondly, it's crucial to
assess if they possess extensive vertical data to train generative
AI. Thirdly, we need to evaluate if their existing business
segments can logically and easily deploy generative AI
capabilities. Lastly, and quite interestingly, we examine whether
the company has developed an internally trained platform to enhance
their operations, which they can then offer to clients, partners,
and even competitors," said Mr.
Huang. He elaborated on the standards for portfolio
selection, emphasizing the importance of technological strength,
data capabilities, application services, and commercial
implementation.
Mr. Huang drew an intriguing parallel between Yiren Digital's
growth trajectory and that of AWS, noting that AWS initially served
as an internal cloud service for Amazon and later evolved into an
external SaaS solution, eventually becoming a standalone
business.
"We, at Yiren Digital, have tons of vertical datasets, and our
top team absolutely embraces AI from all aspects of our operations
and we have business scenarios to use AI", commented Mr. Huang,
suggesting that Yiren Digital's AI systems and models, such as
DiTing and its AI customer acquisition capabilities, have the
potential and are poised to follow a comparable path of evolution,
which positions Yiren Digital well for a possible market
revaluation.
As of March 31,2024, Yiren
Digital's proprietary intelligence platform, DiTing, had made over
one billion decisions, underscoring the data-tech based system's
robust capabilities in leveraging advanced AI and machine learning
algorithms to support dynamic and reliable financial
decision-making. The DiTing platform received recognition at the
"Jinxintong" Fintech Innovation & Case Collection and
Application Awards. Moreover, the company's AI-driven Intelligent
Customer Service was also honored with the "Outstanding Solution"
Award at the "Technology Industry Financial Integration" Data
Modeling Algorithm Competition.
Notably, the company just completed its branding upgrade,
changing its Chinese name to "Yiren Zhike" ("宜人智科"), signaling its
commitment to digital intelligent technologies and sharpening its
focus on leveraging AI for operational efficiency, customer
experiences, and cost optimization. Looking ahead, Yiren Digital
aims to transform its AI capabilities into innovative solutions
applicable broadly across selected industries.
About Yiren Digital
Yiren Digital Ltd. is an advanced, AI-powered platform providing
a comprehensive suite of financial and lifestyle services in
China. Our mission is to elevate
customers' financial well-being and enhance their quality of life
by delivering digital financial services, tailor-made insurance
solutions, and premium lifestyle services. We support clients at
various growth stages, addressing financing needs arising from
consumption and production activities, while aiming to augment the
overall well-being and security of individuals, families, and
businesses.
About Huang
Jingsheng
Mr. Huang
Jingsheng has served as a board director of Yiren Digital
since December 17, 2015.
Mr. Huang is the former
managing executive director at the Harvard Center Shanghai.
Previously, he was a partner at TPG Growth and RMB Funds, a
managing director at Bain Capital LLC, and held positions at
SOFTBANK Asia Infrastructure Fund, SuNeVision Ventures, Intel
Capital, and Gartner Group. He has served on the boards of the
China Venture Capital Association and the Shanghai Private Equity
Association.
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SOURCE Yiren Digital