Chinese tech executives recently gathered at the Luohan Academy event to discuss the significant impact of large language models (LLMs) on businesses. The annual conference, hosted by the research institute initiated by Alibaba, focused on the role of artificial intelligence (AI) in shaping the future of various industries.
Notable figures such as Zhang Fan, the chief operating officer of generative artificial intelligence start-up Zhipu AI, shared insights on how companies can leverage LLMs to enhance their operations. Zhipu AI’s innovative Model-as-a-Service platform allows businesses to customize their generative AI applications through application programming interfaces (APIs), catering to their specific needs. For example, a leading securities dealer in China utilized this service to develop an AI brain capable of assisting customers in selecting optimal stock portfolios and addressing queries effectively.
With the upcoming closure of API access by OpenAI in China, Zhang highlighted Zhipu AI’s API service as a promising alternative, sparking a competitive race among Chinese LLM developers to fill the impending gap. Zhang expressed optimism about the widespread adoption of LLMs in the market, projecting that over 80% of companies will integrate these models into their operations by 2026.
The Luohan Academy event underscored the growing importance of AI in social and economic discourse, with a majority of sub-forums dedicated to exploring the intersection of AI and various sectors. Chen Long, the president of Luohan Academy, emphasized the transformative impact of AI on the economic landscape and business models, signaling a shift towards more complex human interactions in a technologically-driven world.
Executives from leading tech companies like Ant Group and Alibaba International Digital Commerce Group also showcased how LLM-based services are revolutionizing industries such as insurance and global commerce. Huang Hao of Ant Group highlighted the efficiency gains in the insurance sector through AI-based tools, while Zhang Kaifu of Alibaba International Digital Commerce Group shared insights on empowering small and medium-sized enterprises to expand in international e-commerce markets using generative AI solutions.
As AI continues to reshape traditional business practices and elevate global competitiveness, the conversations at the Luohan Academy event shed light on the pivotal role of LLMs in driving innovation and growth across diverse industries.
