The Shanghai Financial Supervisory Authority issued “Certain Measures to Promote the Application of Artificial Intelligence in the Banking and Insurance Industry in Shanghai”. It indicates leveraging the value of data elements. Promote financial institutions to strengthen data governance and improve data governance systems and data quality control mechanisms. Encourage financial institutions to integrate multi-source data, build high-quality data sets, formulate full-process management standards such as data collection, cleaning, standardized processing, and labeling, and consolidate the data asset foundation. Promote financial institutions to build knowledge bases, draw up knowledge maps, and clarify knowledge boundaries and relationships. Encourage financial institutions to establish knowledge management systems, improve the full life cycle management mechanism for knowledge generation, storage, update and offline, strengthen knowledge approval, content quality inspection and expiration management, combine user access data and expert evaluations, continuously optimize the content and quality of the knowledge base, use artificial intelligence technology to extract and form knowledge; explore private computing and blockchain technology, and carry out data sharing in accordance with the law under the premise of privacy protection and security compliance.

The Shanghai Financial Supervisory Authority issued “Certain Measures to Promote the Application of Artificial Intelligence in the Banking and Insurance Industry in Shanghai”. It indicates leveraging the value of data elements. Promote financial institutions to strengthen data governance and improve data governance systems and data quality control mechanisms. Encourage financial institutions to integrate multi-source data, build high-quality data sets, formulate full-process management standards such as data collection, cleaning, standardized processing, and labeling, and consolidate the data asset foundation. Promote financial institutions to build knowledge bases, draw up knowledge maps, and clarify knowledge boundaries and relationships. Encourage financial institutions to establish knowledge management systems, improve the full life cycle management mechanism for knowledge generation, storage, update and offline, strengthen knowledge approval, content quality inspection and expiration management, combine user access data and expert evaluations, continuously optimize the content and quality of the knowledge base, use artificial intelligence technology to extract and form knowledge; explore private computing and blockchain technology, and carry out data sharing in accordance with the law under the premise of privacy protection and security compliance.