On October 30, a financial news flash reported that Industrial And Commercial Bank Of China Limited (ASX: 601398) held its third-quarter 2026 earnings briefing today.
Regarding the implementation of its AI strategy, a relevant person in charge of the fintech department stated that the application of AI technology and the development of AI technology itself are still evolving rapidly. The bank believes that moderately forward-looking investment is necessary, but scientifically quantifying AI input-output remains an industry-wide challenge. He noted that ICBC is also actively exploring and establishing a full-process AI value evaluation system. In terms of specific implementation, first, there is a pre-event mechanism for assessing and screening scenario value, focusing on mining high-value scenarios to ensure effective resource investment. During implementation, a measurement system for application costs and benefits has been established, mainly monitoring and measuring from aspects such as token consumption, number of users, business outcomes, and security risk impact, to dynamically grasp actual operational quality and efficiency. After implementation, a regular evaluation and low-efficiency exit mechanism has also been formed to continuously drive iterative improvement of AI applications. He admitted frankly: "To be honest, everyone now has a good outlook on AI's potential, but there are also some discussions about the direction of its strategic value. We believe AI is not only a tool for cost reduction and efficiency improvement, but also a core engine for reshaping the underlying logic of commercial banks."
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