Dialogue with Cui Qi of Advance.AI: Digital empowerment and technology drive help Chinese companies go global

With the decline of traffic dividends and the increasing saturation of the domestic market, more and more entrepreneurs are eyeing overseas markets. Under this trend, the cross-border overseas market has ushered in a big boom.

However, while the cross-border blue ocean holds huge market potential, it is also accompanied by undercurrent risks. Therefore, how to objectively and comprehensively examine the market operation model and build risk control solutions has become a major pain point for many companies going overseas.

Targeting this gap, Advance.AI entered the Southeast Asian market, using artificial intelligence as the core driving force to help overseas companies accelerate their implementation.

As the director of Advance.AI's overseas commercialization in China, Mr. Cui Qi has been deeply involved in the financial technology track for many years and has rich experience in risk management in financial scenarios. This interview is based on the empowerment of artificial intelligence in the cross-border industry, and deeply explores how Advance.AI directly addresses the pain points of overseas companies and builds a refined risk control system.

Founded in 2016, Advance.AI is Asia's leading artificial intelligence and big data company, providing solutions to customers' business pain points, including digital transformation, anti-fraud and process automation. Headquartered in Singapore, the company currently serves more than 200 countries around the world, serving more than 1,000 customers in multiple fields including financial technology, e-commerce, and travel services.

Riding on the wave of reform that empowers all walks of life with artificial intelligence technology, Advance.AI chose to enter the Southeast Asian market where competitors are relatively scarce, taking root in the financial technology field and helping overseas companies build digital risk solutions.

Mr. Cui Qi introduced: "Since its establishment in 2016, Advance.AI has served the most financial clients. Currently, more than half of its clients belong to the cross-border financial field. The common point of these clients is that they started in China in the early stage and then moved overseas. The reason why Advance.AI entered this niche field is precisely based on the pain point of clients who lack risk control data and products in the process of competing in overseas markets."

To address these pain points, Advance.AI helps clients provide full-process digital identity authentication solutions in the countries where they develop business, including facial recognition, facial search, facial comparison, and document recognition tools equipped with OCR technology, helping financial clients solve identity fraud issues at the forefront of the business.

In order to help cross-border financial companies better achieve their business goals and prevent digital risks, Advance.AI has been committed to in-depth research on intelligent anti-fraud technology and developed a "multi-dimensional data face credit scoring solution" to help Party A identify the customer's past borrowing history, assess their repayment ability and whether there is credit risk, and provide a model score for user qualifications in the final stage, helping Party A to efficiently and accurately locate real users and reduce loan risks.

Relying on forward-looking development vision, Advance.AI has seized early dividends in the Southeast Asian market, and gradually expanded the market boundaries by taking advantage of its leading advantages. Its service areas have also expanded from financial technology to cross-border e-commerce, traditional retail, games and other industries. Among them, cross-border e-commerce has been a strong outlet in recent years and is also an important goal for Advance.AI to expand its global market share.  

When talking about the activation ability of artificial intelligence for cross-border e-commerce, Mr. Cui Qi said frankly: "The application of artificial intelligence in this industry is still superficial, but the potential space it contains is very considerable."

At present, the application of artificial intelligence in domestic e-commerce has become increasingly mature. Users can deeply feel the existence of artificial intelligence products and services in every aspect of the experience from registration to use.

In contrast, in the cross-border e-commerce sector, the application of artificial intelligence is not yet in-depth and comprehensive, and there is still a lot of room for development. Mr. Cui Qi believes that "if artificial intelligence is applied to the entire business process of cross-border e-commerce companies, it can help them to more accurately stratify users, segment and differentiate customers, and effectively locate active users and those with high consumption frequency."

Due to geographical limitations, policy supervision and other factors, cross-border transactions will inevitably involve risks such as information verification loopholes, identity fraud, and illegal capital flows. Among them, cross-border payments are an important part of transactions, and security and compliance are of paramount importance.

Based on the risk control pain points faced by cross-border e-commerce companies, Advance.AI continues to research cutting-edge technologies and build solutions for users. Mr. Cui Qi said frankly: "The application of eKYC products developed by Advance.AI in the payment process is likely to become the standard in the cross-border e-commerce industry in the future."

Advance.AI helps cross-border e-commerce companies build and improve eKYC services, customizes exclusive facial anti-fraud products for e-commerce companies, and provides services such as facial comparison, liveness detection, and document recognition to prevent one person from having multiple documents and avoid lending risks, thereby further solving business pain points.

Nowadays, Advance.AI is committed to helping more and more cross-border e-commerce organizations build accurate user positioning functions. Through multi-dimensional data verification, it helps companies achieve strategic layout and activate the new cross-border e-commerce ecosystem.

As the saying goes, the simplest way is the best way. The reason why Lingchuang Zhixin can stand out from the competition is that it implements the development concept of focusing on users and attaching importance to research and development.

Regarding how to build a unique competitive barrier in the e-commerce field, Mr. Cui Qi believes: "Advance.AI emphasizes customer-centricity, so its core competitiveness lies in its service capabilities."

In the process of developing overseas business, language barriers, geographical limitations, cultural differences, etc. are problems that many cross-border companies cannot avoid. Advance.AI's business territory is expanding from Southeast Asia to Europe and the United States, and is making a global layout.

Aiming at the pain points of customers in different markets, Advance.AI provides targeted supporting services, insists on technological innovation and team building, adheres to the customer-centric principle, and conducts in-depth cooperation with every customer to achieve 24-hour all-round and timely response. Looking at other competitors and suppliers in the same industry, almost no one can provide similar comprehensive services.

Today, Advance.AI has matching solutions for every industry and every scenario. Through Advance.AI's technical capabilities, it empowers various fields and promotes the diversified development of users.

From a macro perspective, although artificial intelligence has become increasingly mature in the domestic e-commerce industry, it is still in the early stages of development in the cross-border e-commerce field, so it has great potential; from a micro perspective, Advance.Ai has strong independent research and development capabilities and can help customers better conduct business through technological iteration.

Therefore, regarding the strategic layout in the field of cross-border e-commerce, Mr. Cui Qi expressed his hope to help more e-commerce companies complete digital transformation through the application of Advance.AI's technology empowerment. At the same time, with the help of many years of mature experience in the field of cross-border finance, based on a complete product system and high-quality customer service system, he will help partners in the e-commerce field to better achieve their strategic goals.

As Advance.AI moves away from the financial scenarios that it is best at, it will also face new challenges and opportunities. It will need to spend more energy to deeply explore the pain points and needs of each customer in each scenario from a more professional perspective, and then match the corresponding R&D resources and develop corresponding products and services to meet customer needs in a timely and effective manner.

Shakespeare once said that everything in the world has a rising tide, and if you grasp the tide, it will lead you to good luck. Lingchuang Zhixin has seized the wave of artificial intelligence empowering all walks of life and used digital technology to drive overseas companies to ride the wave.