Forging Ahead with Digital Innovation – Cango Wins CDI Product Digital Innovation Award
On September 5 and 6, 2023, the 9th CDIE Digital Innovation Expo (“CDIE 2023”) was successfully held at the Zhangjiang Science Hall in Shanghai. During the summit’s 3rd CDI Huaying Award Ceremony and Gala Dinner, Cango was awarded the “2023 CDI Product Digital Innovation Award” for its innovative digital product “AI Asset Guard.”
Leveraging the deep expertise and insights in the automotive financing industry cultivated over its many years of operations, Cango developed AI Asset Guard based on millions of consumer automotive financing and consumption data. Presented in the form of a web plug-in, AI Asset Guard is convenient and efficient, providing professionals in the automotive financing industry with precise consumer profiling. AI Asset Guard utilizes ChatGPT technology for semantic and keyword analysis, supplemented by rigorous algorithms that enable more accurate and efficient results. Based on the analysis of consumers’ historical asset management data, it generates targeted customer service scripts for post-loan negotiation dialogues and diverse post-loan solutions, ensuring smooth and efficient post-loan operations.
AI Asset Guard offers financial institutions, automotive financing companies, and companies requiring asset management support with intelligent assistance in post-loan process management, significantly elevating post-loan service efficiency.
Conducted under the theme of "Digital Innovation: Restart the New Potential of Business Growth," CDIE 2023 attracted a wide array of industry giants and seasoned experts from diverse fields. The participants discussed industry development trends and challenges from multiple perspectives, including innovations driven by digitalization in business models, marketing, products, procurement, supply chain and globalization. Industry thought leaders, including Knut Hilles, CIO of SAIC Volkswagen, and Yi Han, Vice President of Marketing at XPENG, shared their thoughts and experiences revamping the automotive industry with digital innovation.
As in the automotive market, there are numerous opportunities for industry players to capitalize on innovations in data generated throughout the process of vehicle research, development, production, sales and utilization, as well as driving data, autonomous driving, used car inspection, transaction risk-control, intelligent vehicle diagnostics and digital body language etc. Driven by this new wave of digital transformation, the automotive industry is evolving from a single-technology perspective. The transition embraces a more collaborative, open and shared development approach that integrates powerful advanced technologies such as 5G, big data, Internet of Things (IoT) and artificial intelligence. Promoting digitization of the automotive industry's value chain is also becoming an undeniable industry trend.
In recent years, Cango has continuously advanced digitalization across its business segments, information systems and management, playing a pivotal role in the digital transformation of the Chinese auto dealers industry. In May 2023, Cango’s first data product, “Car Dealer Operational Index Query,” was successfully listed and began trading on the Shanghai Data Exchange. Honored at this year’s CDIE summit, Cango received high praise and recognition from the judging committee for its AI Asset Guard and the comprehensive digital innovation the Company has implemented throughout its business operations. Going forward, Cango will continue to immerse itself in applying digital offerings across more user scenarios and further refine its business operations to embrace diverse transformations powered by digitalization, propelling the Company and the broader industry to reach new heights.