Baidu Launches First Financial AIGC Marketing Solution to Boost Efficiency and Effectiveness for Financial Institutions
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AIGC will unlock greater potential for the financial industry.
On August 23, the '2023 Baidu Marketing Financial Industry Summit' was held in Kunming, where Baidu Marketing collaborated with hundreds of industry leaders to explore the applications and development of AIGC technology in the financial sector. During the event, Baidu Marketing unveiled its first AIGC-powered marketing solution for the financial industry, featuring three key capabilities: a large-model-enhanced commercial engine, financial industry merchant BOTs, and financial-specific digital avatars, all designed to empower financial institutions in their digital transformation.
Generative AI is driving transformation across industries. As summarized by Robin Li, Founder, Chairman, and CEO of Baidu, 'Whoever masters the best way to communicate with customers owns the customers.'
Zhao Qiang, Vice President of Baidu and Head of Sales Business Platform for Baidu's Mobile Ecosystem Business Group, stated at the event that Baidu Marketing adopts an AIGC+X multi-dimensional marketing model, leveraging generative AI technology for diversified and innovative marketing, thereby creating more possibilities for the financial industry.
Professor Zhang Jun, a first-class professor in liberal arts and Dean of the School of Economics at Fudan University, delivered a speech at the summit. He noted that the State Council recently issued 20 measures to encourage consumption and strengthen financial support for the sector, boosting confidence in the consumer finance industry. Additionally, digital technology and AI present opportunities for China's banking sector to leapfrog competitors. For instance, AIGC can expand the financial industry's development space by increasing consumption scenarios and reducing labor costs.
It is widely recognized that customer acquisition, engagement, and retention are the three major challenges in the financial industry. As consumer and wealth management activities increasingly shift online, financial institutions face issues such as poor online user experience and low conversion rates, leading to surging demand for AIGC products in financial marketing. Against this backdrop, Baidu has deeply integrated AIGC capabilities with financial marketing scenarios, creating a closed-loop content model encompassing inspiration, creation, deployment, and operation to redefine the commercial logic of marketing.
Baidu's newly launched financial industry merchant BOT focuses on native marketing scenarios where users and merchants interact seamlessly, helping financial businesses reduce costs and improve efficiency through personalized operations.
Liu Lin, Director of Baidu's Commercial R&D Department and Head of Commercial AIGC, explained that the merchant BOT trains models to thoroughly learn and understand high-quality content validated post-deployment. By deeply analyzing this content and attributing it to data insights, the BOT generates creative guidance. Leveraging multimodal AIGC generation capabilities, it continuously produces marketing content—such as text, images, and videos—that aligns with user consumption habits, integrating marketing with business operations.
Finally, through the deployment system, a closed loop is formed. By incorporating actual user behavior and feedback signals, the AI model iteratively improves, achieving efficiency and effectiveness optimization in tandem, thereby fostering a high-quality, virtuous-cycle marketing ecosystem.
With the support of the engine-layer model capabilities, the system, though still in internal testing, has already helped merchants increase their conversion rate (CV) by 5%.
Wutong Tree Insurance is among the first batch of beta testers for BOT's financial industry solution. The Wutong Tree Financial AI Assistant, developed by BOT, serves as a dedicated customer service agent capable of answering any insurance-related questions, such as product planning and professional knowledge inquiries. After implementation, pre-sales consultation efficiency saw notable improvements.
When potential insurance customers search for long-tail keywords on Baidu, they can receive real-time responses through conversations with the Financial AI Assistant, achieving content satisfaction and subsequently being 'influenced' to make a purchase.
After several rounds of dialogue, the Wutong Tree AI Financial Assistant can tailor asset planning solutions based on the user's specific circumstances.
Previously, Baidu Marketing launched the AIGC marketing creativity platform 'Qingduo,' which offers three core creative capabilities: copywriting generation, image generation, and digital human video production. This platform helps clients enhance efficiency and quality in marketing, reshaping the commercial marketing ecosystem.
Currently, Qingduo has developed specialized templates for the financial industry, featuring over 150 digital human avatars tailored for financial services. Reports indicate that some partner companies, with Qingduo's assistance, have achieved a 10-fold increase in video ad production efficiency while reducing manpower by half.
It is anticipated that AIGC will unlock even greater potential for the financial industry.