Xiao Yuanqi, Deputy Director of the Financial Regulatory Administration: The promotion and impact of technological achievements represented by artificial intelligence on finance may be significant and fundamental

Xiao Yuanqi, Deputy Director of the Financial Regulatory Administration, stated at the 2025 Global Wealth Management Forum that currently, technological achievements represented by artificial intelligence have begun to be widely applied in the financial sector. It can be expected that the promotion and impact on finance may be significant and fundamental. He pointed out that artificial intelligence empowers the financial industry, supporting the underlying technologies, data, and algorithms of the fintech ecosystem. Finance is an industry that manages currency and risk, and it has high requirements for stability and reliability in technology applications, naturally leaning towards cooperation with technology companies that have advantages in technology, research and development, and application promotion. At the same time, large financial institutions also have inherent advantages in resource technology investment, customer numbers, and data accumulation. Taking information data as an example, data is the fuel for artificial intelligence. Large financial institutions, due to their vast, multidimensional, and real-time historical transaction data, customer behavior data, and macro data, can train more accurate and powerful predictive models and risk control models, forming a positive feedback loop of "data—model—customer—data." Coupled with significant capital investment to attract top technology talent, this may create competitive barriers for small and medium-sized institutions, resulting in what is known as the "Marshall Conflict." We know that a stable and efficient financial structure requires a diverse range of financial entities and trading markets. How small and medium-sized institutions can adjust their development strategies and business structures to adapt to the changes brought about by the technological revolution and ensure they still have sustainable business models is crucial for maintaining a reasonably balanced financial structure