Page 284 - 2020 White Paper on the Business Environment in China
P. 284
0 White Paper on the Business Environment in China
China has been a leading force in applying personal passwords, especially internet-based
artificial intelligence, robotics, drones and other wealth management platforms (Chai).
cutting-edge technologies in different scenarios.
There is a lot to be learnt from technologies that
are already applied on a large scale in China and
there are implications for the US and Europe. China
is a world leader in mobile payments, according to
projections by eMarketer. By 2021, 79 percent of
smartphone users will be tapping, scanning and
swiping at points of sale. By comparison, the US
will have almost 31 percent of users doing so,
and the corresponding figure will be 22 percent in
Germany. China is the main hub of testing all the
things in terms of innovations like AI technology.
The next breakthrough for retail sector lies in 5G
mobile telecom technology, but AI is also making a
lot of difference not only to the future but also to
the workforce, customers and retailers. The next
generation of retail would be characterized by
decentralization, thanks to the flexibility enabled
by artificial intelligence, machine learning, robotics
and other technologies (He).
In addition, biometric authentication - using
a person’s unique physical characteristics to
verify one’s identity - is emerging as a preferred
alternative for e-payment. One of the most
sought-after biometric authentication methods
now is facial recognition, but a startup in
Shenzhen is taking another route to integrate
artificial intelligence and voiceprint technology.
Among biometric authentication methods,
including fingerprint scanning, facial recognition
and iris scanning, voice recognition ranked at
the second-highest preference. Development of
the technology has also received official support
in China. The central bank issued technical
specifications in 2019 for voiceprint-recognition-
based security applications related to mobile
finance, setting up industry standards in the
sector. In fact, voiceprint recognition is not a new
technology, and many countries have applied it
to criminal investigations. Now as AI technology
develops rapidly, traditional voiceprint recognition
methods have also remarkably improved. Another
trend is that multiple methods of biometric
authentication will be used simultaneously to
guarantee safety. One possible application is to
double-guarantee information security with a
verification code, which now is widely regarded
as a simple supplementary log-on method to
284
China has been a leading force in applying personal passwords, especially internet-based
artificial intelligence, robotics, drones and other wealth management platforms (Chai).
cutting-edge technologies in different scenarios.
There is a lot to be learnt from technologies that
are already applied on a large scale in China and
there are implications for the US and Europe. China
is a world leader in mobile payments, according to
projections by eMarketer. By 2021, 79 percent of
smartphone users will be tapping, scanning and
swiping at points of sale. By comparison, the US
will have almost 31 percent of users doing so,
and the corresponding figure will be 22 percent in
Germany. China is the main hub of testing all the
things in terms of innovations like AI technology.
The next breakthrough for retail sector lies in 5G
mobile telecom technology, but AI is also making a
lot of difference not only to the future but also to
the workforce, customers and retailers. The next
generation of retail would be characterized by
decentralization, thanks to the flexibility enabled
by artificial intelligence, machine learning, robotics
and other technologies (He).
In addition, biometric authentication - using
a person’s unique physical characteristics to
verify one’s identity - is emerging as a preferred
alternative for e-payment. One of the most
sought-after biometric authentication methods
now is facial recognition, but a startup in
Shenzhen is taking another route to integrate
artificial intelligence and voiceprint technology.
Among biometric authentication methods,
including fingerprint scanning, facial recognition
and iris scanning, voice recognition ranked at
the second-highest preference. Development of
the technology has also received official support
in China. The central bank issued technical
specifications in 2019 for voiceprint-recognition-
based security applications related to mobile
finance, setting up industry standards in the
sector. In fact, voiceprint recognition is not a new
technology, and many countries have applied it
to criminal investigations. Now as AI technology
develops rapidly, traditional voiceprint recognition
methods have also remarkably improved. Another
trend is that multiple methods of biometric
authentication will be used simultaneously to
guarantee safety. One possible application is to
double-guarantee information security with a
verification code, which now is widely regarded
as a simple supplementary log-on method to
284
