Lucas GC Limited Signed a Strategic Agreement with Industrial Securities Co., Limited to Develop AI Solutions to Boost Productivity in Selling Financial Products
Lucas GC (NASDAQ: LGCL) has signed a strategic partnership with Industrial Securities Co., to develop AI solutions for boosting financial advisor productivity in selling financial products. The collaboration aims to leverage Lucas' patented AI technology, including its Computer-Aided Persuasion System (CAPS) and Large Language Model (LLM), to improve the accuracy of financial product recommendations.
Industrial Securities, with over RMB 252 billion in assets and 9,000 employees, seeks to enhance its wealth management business in China's high net-worth individual market, estimated at RMB 127 trillion in investable assets. Lucas' AI-driven approach is expected to benefit both financial institutions and customers by improving customer interactions and providing better-fit recommendations based on customer profiles and behaviors.
Lucas GC (NASDAQ: LGCL) ha firmato una partnership strategica con Industrial Securities Co. per sviluppare soluzioni di intelligenza artificiale volte ad aumentare la produttività degli advisor finanziari nella vendita di prodotti finanziari. La collaborazione ha l'obiettivo di sfruttare la tecnologia brevettata di Lucas, inclusi il suo Computer-Aided Persuasion System (CAPS) e il Large Language Model (LLM), per migliorare l'accuratezza delle raccomandazioni sui prodotti finanziari.
Industrial Securities, con oltre 252 miliardi di RMB in attivi e 9.000 dipendenti, intende potenziare il suo business di gestione patrimoniale nel mercato degli individui ad alto patrimonio netto in Cina, stimato in 127 trilioni di RMB in attivi investibili. L'approccio basato sull'IA di Lucas dovrebbe beneficiare sia le istituzioni finanziarie che i clienti, migliorando le interazioni con i clienti e fornendo raccomandazioni più adatte in base ai profili e ai comportamenti dei clienti.
Lucas GC (NASDAQ: LGCL) ha firmado una asociación estratégica con Industrial Securities Co. para desarrollar soluciones de inteligencia artificial que impulsen la productividad de los asesores financieros en la venta de productos financieros. La colaboración busca aprovechar la tecnología de IA patentada de Lucas, incluido su Computer-Aided Persuasion System (CAPS) y Large Language Model (LLM), para mejorar la precisión de las recomendaciones de productos financieros.
Industrial Securities, con más de 252 mil millones de RMB en activos y 9.000 empleados, busca mejorar su negocio de gestión de patrimonios en el mercado de individuos de alto patrimonio neto de China, estimado en 127 billones de RMB en activos invertibles. Se espera que el enfoque basado en IA de Lucas beneficie tanto a las instituciones financieras como a los clientes al mejorar las interacciones con los clientes y proporcionar recomendaciones más ajustadas según los perfiles y comportamientos de los clientes.
루카스 GC (NASDAQ: LGCL)는 산업 증권 주식회사와 전략적 파트너십을 체결하고 재무 상품 판매의 생산성을 높이기 위한 AI 솔루션을 개발합니다. 이 협업은 루카스의 특허받은 AI 기술, 즉 Computer-Aided Persuasion System (CAPS)와 Large Language Model (LLM)을 활용하여 재무 상품 추천 정확성을 개선하는 것을 목표로 합니다.
산업 증권은 2520억 RMB 이상의 자산과 9,000명의 직원을 보유하고 있으며, 중국의 고소득 개인 시장에서의 자산 관리 사업을 강화하고 싶어합니다. 이 시장의 투자 가능 자산은 127조 RMB로 추정됩니다. 루카스의 AI 기반 접근 방식은 고객과의 상호작용을 개선하고 고객 프로필 및 행동에 따라 적절한 추천을 제공함으로써 금융 기관과 고객 모두에게 이익을 줄 것으로 기대됩니다.
Lucas GC (NASDAQ: LGCL) a signé un partenariat stratégique avec Industrial Securities Co., pour développer des solutions d'IA visant à accroître la productivité des conseillers financiers dans la vente de produits financiers. La collaboration vise à tirer parti de la technologie d'IA brevetée de Lucas, y compris son Computer-Aided Persuasion System (CAPS) et son Large Language Model (LLM), afin d'améliorer la précision des recommandations de produits financiers.
Industrial Securities, avec plus de 252 milliards de RMB d'actifs et 9 000 employés, cherche à renforcer son activité de gestion de patrimoine sur le marché des particuliers à haute valeur nette en Chine, estimé à 127 trillions de RMB d'actifs investissables. L'approche axée sur l'IA de Lucas devrait bénéficier à la fois aux institutions financières et aux clients en améliorant les interactions avec les clients et en fournissant des recommandations mieux adaptées en fonction des profils et des comportements des clients.
Lucas GC (NASDAQ: LGCL) hat eine strategische Partnerschaft mit Industrial Securities Co. unterzeichnet, um KI-Lösungen zu entwickeln, die die Produktivität von Finanzberatern im Verkauf von Finanzprodukten steigern. Die Zusammenarbeit zielt darauf ab, die patentierte KI-Technologie von Lucas, einschließlich des Computer-Aided Persuasion System (CAPS) und des Large Language Model (LLM), zu nutzen, um die Genauigkeit von Empfehlungen für Finanzprodukte zu verbessern.
Industrial Securities, mit über 252 Milliarden RMB an Vermögenswerten und 9.000 Mitarbeitern, möchte sein Vermögensverwaltungs Geschäft im Markt der wohlhabenden Privatpersonen in China stärken, dessen investierbare Vermögenswerte auf 127 Billionen RMB geschätzt werden. Der KI-gesteuerte Ansatz von Lucas wird voraussichtlich sowohl den Finanzinstituten als auch den Kunden zugutekommen, indem er die Kundeninteraktionen verbessert und besser angepasste Empfehlungen basierend auf Kundenprofilen und -verhalten bereitstellt.
- Strategic partnership with Industrial Securities Co., to develop AI solutions for financial product sales
- Potential to tap into China's high net-worth individual market with RMB 127 trillion in investable assets
- Application of patented AI technologies, including CAPS and LLM, to improve financial product recommendation accuracy
- Expansion into the wealth management sector, leveraging AI and data analytics capabilities
- None.
Insights
This strategic partnership between Lucas GC and Industrial Securities Co., is moderately positive for Lucas. While it demonstrates the company's ability to secure high-profile clients in the lucrative Chinese wealth management market, several factors temper the immediate impact:
- The agreement is for development of AI solutions, not immediate implementation or revenue generation.
- No financial terms or timeline for the project were disclosed, making it difficult to quantify the potential impact on Lucas' bottom line.
- The effectiveness and adoption rate of the AI solutions remain to be seen.
However, if successful, this partnership could serve as a valuable reference case for Lucas in the
Lucas GC's AI technology, particularly its patented CAPS system and LLM-based model, shows promise in the wealth management sector. Key strengths include:
- Personalized recommendations based on customer profiles and behaviors
- Integration of proprietary industry data to enhance accuracy
- Potential to improve both advisor efficiency and customer satisfaction
However, the real-world performance of these AI solutions in the complex financial products landscape remains unproven. Investors should watch for metrics on recommendation accuracy and adoption rates among Industrial Securities' advisors. The success of this partnership could position Lucas as a significant player in the growing field of AI-driven financial services.
The partnership taps into a massive market opportunity. Bain & Company's estimate of
However, investors should consider:
- The highly competitive nature of the Chinese wealth management market
- Potential regulatory challenges in implementing AI solutions in financial services
- The need for Lucas to prove its technology's effectiveness in real-world applications
While the partnership is promising, its long-term success will depend on Lucas' ability to deliver measurable improvements in advisor productivity and customer satisfaction.
NEW YORK, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Lucas GC Limited (NASDAQ: LGCL) (“Lucas” or the “Company”), an artificial intelligence (the “AI”) technology-driven Platform-as-a-Service (the “PaaS”) company whose technologies have been applied to the human resources, insurance and wealth management industry verticals, announced that it has signed a strategic partnership agreement with Industrial Securities Co., Limited, one of the leading financial institutions in China, to develop AI solutions to boost productivity of financial advisors in selling financial products to customers.
According to Bain & Company, total size of high net-worth individual investable assets in China reaches RMB 127 trillion in 2024. With total assets over RMB 252 billion and over 9,000 employees, Industrial Securities Co., Limited is keen to further gain market share in its leading position in wealth management business.
Lucas’ patent Method And Apparatus For Artificial Intelligence (AI)-Based Computer-Aided Persuasion System (CAPS) (U.S. patent 11,049,510 ) is capable of providing better-fit recommendations based on the customer’s profile and behaviors. Lucas’ Large Language Model (LLM) based AI model, coupled with industry proprietary data, improves accuracy of the financial product recommendations by leveraging its industry-leading machine learning algorithms.
Howard Lee, Chief Executive Officer of Lucas, said “Our patented technologies in AI and data analytics are capable of vastly improving the financial product recommendations accuracy. The most imminent application is in the wealth management business. Our technologies will bring benefits to both the financial institution and the customer as the financial institution is more effective on customer interactions and the customer will get better fit recommendations on wealth management products based on the customer’s profile and behaviors.”
Mr. Min Zhang, Vice General Manager of Industrial Securities Co., Limited Shanghai Branch, said “Industrial Securities believes that enabling financial advisors’ efficiency and productivity, taking personalized advice to the next level will be critical to delivering world-class services to our customers. We’re glad to engage Lucas to develop Generative AI solutions enabling us to make better-fit recommendations and deliver a higher level of service to our customers.”
About Lucas GC Limited
With 18 granted U.S. and Chinese patents and over 74 registered software copyrights in the AI, data analytics and blockchain technologies, Lucas GC Limited is an AI technology-driven Platform as a Service (PaaS) company with over 638,000 agents working on its platform. Lucas’ technologies have been applied to the human resources, insurance and wealth management industry verticals. For more information, please visit: https://www.lucasgc.com/.
About Industrial Securities Co., Limited
Industrial Securities Co., Limited was established in 1991 with the approval of China Securities Regulatory Commission. It’s been listing on the Shanghai Stock Exchange (601377.SH) since 2010. With total assets over RMB 252 billion and 9,000 employees in China and overseas, Industrial Securities Co., Limited’s businesses comprise of securities brokerage, investment banking, derivative trading and financing, investment consulting, and wealth management.
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