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Ant's increased AI efforts come at a time when most major Chinese tech companies are investing in large language models (LLMs) - the technology that underpins ChatGPT and similar AI chatbots - and exploring ways to boost growth through innovations in the area.
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The People's Bank of China and the government of Zhejiang province were preparing to grant Qiantang Credit Rating, an Ant-affiliated agency, a "personal credit information collection licence", a necessary permit for Ant to grow its credit business, central bank governor Pan Gongsheng said on Wednesday.
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