Moneycab: Mr. Jiang, after studies in Germany and sustainability management professional work in China and Switzerland you founded Susfinteq and are now focusing on the Chinese market, applying artificial intelligence to automatically generate ESG (Environmental, Social and Governance) assessment scores of Chinese public companies. How far is the product developed, where could you already test it?
Jiang Shan: We are focusing on the Chinese market, serving both - private investors and institutional investors - in terms of Green Finance market. Listening to clients' demand is our way, and now our product is in the phase of prototype for internal testing, so it is not yet for external test. It is a pure Chinese version currently and we have also a wechat (Tencent platform) application to attract young generations in the field of sustainability investment. Our vision is that "everyone can make sustainability investments".
Susfinteq's self-developed quantification framework uses natural language processing techniques and machine learning tools. How do you plan to protect the intellectual property of your solution and what do you think makes it unique in the market?
The only solution to protect our intellectual property is to keep up innovation and adapt to the market, my initial idea has totally been changed after interactions with clients. To educate young generations is super important in China, and most professional clients at the financial market are not easy to convince that ESG or sustainability is material. This has mainly to do with their experience in the past 30 years in China, which focuses less on ecological situations and social dimensions.
The uniqueness of Susfinteq is that we believe young generations have a new mindset and act on sustainability; so our technologies, business practices and promotional language are serving the Chinese transformation into sustainable development in a long term together with young generations. Technologies such as AI (artificial intelligence) or blockchain are means to our goal, so we shall also keep listening to the governmental reforms, social concerns and value system of different generations.
How did you finance the development of your solution so far and how do you want to finance the next steps?
I spent my own money to develop businesses and my parents also support me financially, which is very important. Luckily I have business partners, who joined me and provided financial resources as well as talents. Next step we will gain financial support from both Venture Capitalists and governmental funds for innovation.
Susfinteq mainly covers Chinese public companies at current stage. What will it take to use the same technology for other markets ...
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