Leading Global Insurance Company To Implement Blockchain And AI
SingularityNET, the blockchain development company, announced in its blog a partnership with the world's largest insurance company from China Ping An. It is planned to launch several joint projects with the use of artificial intelligence.
According to Bai Meng, the head of the Ping An artificial intelligence technology department, the company is considering the commercial use of the optical character recognition engine, machine learning, and cross-validation technology from the SingularityNET developers.
In turn, the representatives of the blockchain company noted that last month, SingularityNET launched a beta version of the decentralized trading platform using AI, which, they said, was the first of its kind in the world. The firm plans to create a global intelligent cloud that will not be controlled by any organization.
Ping An is a leader in the global insurance market. The corporation's market capitalization totaled $217 billion in January 2018, and its securities are listed on the Hong Kong and Shanghai stock exchanges.
The release of information about the upcoming partnership has provoked a sharp rise in the cost of SingularityNET (AGI) — the company's own token. On the morning of Thursday, March 14, a 13% increase in price was recorded, after which a slight correction occurred.
As previously reported, SingularityNET announced a partnership with the Hara project to implement blockchain technology in the field of agriculture.