Ping An is strengthening its artificial intelligence (AI) strategy with the appointment of Ray Wang as Chief Technology Officer (CTO) and General Manager of Ping An Technology, the business announced in a media release on Tuesday, 29 July.
Wang is an AI veteran, having held senior technical management roles at Bloomberg, Google, and Baidu. He joins from Ant Group, where he served for nearly nine years, including his latest stint as CTO of its international business.
His new role involves the deep integration of Ping An’s self-developed large language models and open-source big data platforms to accelerate the establishment of its digital systems – from business, operations, management, marketing, to services.
Ping An, one of China’s largest insurers, stated that Wang’s appointment will “significantly enhance the company’s research and development and application capabilities in AI.”
“This move aims to inject strong momentum into the Company’s technology-enabled ‘integrated finance and health + senior care’ dual-driver strategy, further advancing its comprehensive digital transformation,” it added.
Ping An underscored Wang’s 20 years of experience in the fintech sector, saying: “Wang brings extensive expertise in the digital transformation of financial services, the development and application of financial large models, top-tier technical skills, and exceptional innovation capabilities.”
Notably, Wang has developed several AI products across wealth management, insurance, consumer finance, MYBank, and Zhima Credit, as well as generative AI financial assistants.
Ping An is one of Asia’s life insurers employing AI in customer interactions and workforce optimisation. As of 2024, the firm has more than 21,000 technology developers and over 3,000 scientists, reinforcing its competitive advantage in AI.
