A Research on the Development of Artificial Intelligence and Consumer Finance in China
Abstract
Consumer finance refers to provide consumers with various financial services to meet consumer needs. China’s consumer finance is at a quick development stage, and its future is very promising. Although it has experienced a rapid development for the consumer finance industry in China, there are also many development problems: (1) The legal norms and regulation of consumer finance are not inadequate. (2) Problems arising from the over-development of “cash lending”. (3) The development problem of the scenario consumer finance. (4) Consumer finance competition is becoming increasingly fierce and challenged by disorderly market competition. (5) The problem of contradiction between financial technological innovation and consumer rights protection. With the rapid development of financial science and technology, artificial intelligence is also deepening its application in the field of consumer finance, including credit reporting, intelligent risk management, intelligent marketing, intelligent customer service, intelligent collection and intelligent regulation. Consumer Finance which is combined consumer and finance is gradually infiltrated by Artificial Intelligent. Consumer finance companies will rely on more help of machines and Artificial Intelligent to develop consumer finance. Although there are many challenges and problems in consumer finance at present, Artificial Intelligence will have more applications in the field of consumer finance, so as to make consumer finance smarter.
- Publication:
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Journal of Physics Conference Series
- Pub Date:
- March 2019
- DOI:
- 10.1088/1742-6596/1176/4/042073
- Bibcode:
- 2019JPhCS1176d2073C