On May 29, the Postal Savings Bank of China (PSBC) and Beijing Zhipu Huazhang Technology Co., Ltd. (Zhipu AI) signed a strategic cooperation agreement in Beijing. Niu Xinzhuang, vice president of PSBC, and Zhang Peng, CEO of Zhipu AI, attended the ceremony and signed the agreement on behalf of both parties. Zhang Bo, academician of the Chinese Academy of Sciences and honorary president of the Institute for Artificial Intelligence at Tsinghua University, witnessed the signing ceremony.

According to the agreement, the two parties will deepen cooperation based on the principle of mutual complementarity and promotion of production and demands, and carry out joint research to tackle difficulties in the fields of risk management, marketing operations, customer service and internal support on the basis of their respective core competitiveness, so as to jointly boost the wide application and rapid development of large language model (LLM) technology in the financial industry.

Zhipu AI, originating from the Knowledge Engineering Group of Tsinghua University, is one of the representative LLM developers in China. With the agreement, PSBC and Zhipu AI will work together to establish a joint innovation laboratory, carry out research in financial LLMs, and build an AI personnel training system, so as to enable the interconnection, sharing and co-construction of resources and create a win-win ecosystem featuring “finance plus technology”. Next, the two parties will join hands to explore excellent innovative applications of financial LLMs in the industry.