20 June 2024

The Hang Seng University of Hong Kong (HSUHK) held the Innovation Project Competition 2024 — FinTech x ChatGPT to foster a culture of innovation and creativity from ChatGPT into FinTech among university students, and encourage them to explore the capabilities of fintech and artificial intelligence (AI). The Competition shortlisted seven teams from four universities for the final pitching day, including HSUHK, Hong Kong Baptist University (HKBU), The Chinese University of Hong Kong (CUHK), and The Education University of Hong Kong (EdUHK) to came up with ideas regarding ChatGPT’s innovative solutions that change the financial technology landscape for the final pitch day.

After rigorous deliberation, the EdUHK x CUHK team who came up with an AI-driven insurance platform, was awarded Champion. The platform compensates for the current shortcomings of only purchasing insurance through an insurance agent or online. Additionally, the Champion proposed an idea that uses an AI-powered platform to offer educational resources on insurance, personalised assistance, consultation, and more. The team believe that by efficiently classifying and addressing customers’ specific requirements, the platform can tackle the issue of manpower shortage during peak periods.

The judging panel included Dr Ben Cheng, Director of the Centre for Teaching and Learning, and Dr David Chui, Head of the Department of Economics and Finance from HSUHK; Professor CK Chan, Secretary of CUHK Engineering FinTech Applied Research Academy; Professor Stephan Chow, Director of Knowledge Transfer from EdUHK; Professor Samson Tai, Professor of Practice of the Department of Accountancy, Economics and Finance from HKBU; and Mr Alex Tsui, CEO of SIMNECTZ Technology Services Limited, who evaluated team proposals based on FinTech innovation, feasibility, sustainability, presentation, and teamwork.