Zhejiang Lab

2020 West Lake Cybersecurity Online Summit: Technology Makes Finance Better and Safer

On the afternoon of June 16, scholars, regulators, and industry leaders from organizations including Zhejiang University, Sun Yat-sen University, the Hangzhou Central Branch of the People's Bank of China, and Huawei gathered in the China (Hangzhou) Artificial Intelligence Town for a forum of the 2020 West Lake Cybersecurity Online Summit. With “Technology Makes Finance Safer” as the theme, the forum was focused on financial security and blockchain technology. Pan Yunhe, Zhejiang Lab’s Chief Scientist in artificial intelligence and Academician of the Chinese Academy of Engineering, attended the forum and discussed trending topics with other participants. The forum, including nine keynote speeches and one roundtable discussion, lasted three and a half hours. It was broadcast live online, and full of useful information.

With the opening of the 2020 West Lake Cybersecurity Online Summit, which was co-organized by the Cyberspace Administration of Zhejiang Province, the Zhejiang Provincial Department of Economy and Information Technology, the Zhejiang Provincial Department of Public Security, the Zhejiang Communications Administration, and the Hangzhou Municipal Government, the sub-forum on financial security and blockchain technology started a live broadcast at the same time. Hosted by Zhejiang Lab, it aimed to promote exchanges and collaboration among financial regulators, fintech companies, and research institutions, contributing insights to the high-quality development of financial technology. Core theories and technologies of AI 2.0, such as big data intelligence, group intelligence, transmedia intelligence, and human-computer augmented intelligence, and autonomous intelligence systems, will bring infinite possibilities for the future of the financial industry, boosting the industry to take a big step forward.

At the forum, Zhejiang Lab released the 2020 White Paper for Financial Technology. Focusing on five crucial technologies, the White Paper explains the development of the industry in great detail and thoroughly analyzes the challenges and future trends of financial technology. Aiming to contribute insights to the high-quality development of China’s financial technology, it is co-written by Zhejiang Lab and a group of leading academic, industry, and research organizations, including the School of Economics of Fudan University, the School of Business of Sun Yat-sen University, the Zhejiang Branch of China Construction Bank, Ant Financial Services Group, China Zheshang Bank, Nanjing Bank, Hundsun Technologies Inc., CCB Fintech, HyperChain, and the Fintech Innovation Alliance.

In addition, the forum symbolized the second expansion of partners for Zhejiang Lab’s Dubhe AI Open Source Platform. In November 2019, the Lab announced its plan to work with the first group of partners to build an ecosystem for intelligent finance. Seventeen leading financial institutions, including the School of Business of Sun Yat-sen University, China Zheshang Bank, Huatai Securities, My Bank, and HyperChain, signed agreements with the lab at the forum, deciding to create an intelligent financial ecosystem together and facilitate the development of the industry.