Ping An Insurance (Group) Company of China, Ltd., a insurance to financial services company, expects to invest 100 billion yuan ($15 billion) in technology research and development (R&D) in the next decade to consolidate its technology leadership in the financial services industry.
The core technologies of artificial intelligence, blockchain and cloud computing will continue to empower Ping An Insurance’s five ecosystems financial services, healthcare, auto services, real estate services and smart city services.
Through applying innovative technologies to these ecosystems, Ping An will be able to seamlessly engage with customers to offer simple, professional and relevant financial services to help them better their lives and to help Ping An grow its business.
Each year Ping An Insurance invests one percent of its revenue in the R&D of financial technology and health technology. Ping An has invested $7 billion in R&D in the past decade and expects to invest a total of $15 billion in the coming ten years.