Tech firms swear by AI's ability to smarten finance

BEIJING - China's technology companies have gradually transformed the country's financial sector by incorporating artificial intelligence into their services.

Many top IT companies including Alibaba, Tencent and JD.com have extended their businesses into the financial sector, establishing financial platforms after obtaining several related licenses.

In its latest report on China's financial stability, the People's Bank of China labels these IT giants engaged in financial business as financial holding companies.