JD.com, a leading digital technology company in China, has rebranded its fintech wing JD Finance as JD Digits, in line with the company’s plans to integrate advanced digital technologies across sectors. In addition to boosting company’s fintech vertical, JD Digits will target four other sectors such as urban computing, agriculture, campus services and digital marketing.
Speaking at the 2018 JD Discovery Conference in Beijing on Tuesday, Shengqiang Chen, CEO of JD Digits, outlined the company’s plan of action: “While Fintech continues to be the core business of the company, we are intensely developing digital technology to serve a wider range of industries. From this perspective, the business expansion will follow our main principle, which means data-related business remains our primary focus.”
JD Digits has established six labs in both China and the United States including the Silicon Valley AI Lab, the Intelligent Risk Control Lab, the JD Super Brain Lab, the Block Chain Lab, the Scenario Data Integration Lab, and the JD Intelligent Cities Research Center. Up to 95% of JD Digit’s business is run on automated and intelligent technologies.
Established in 2013, the strong data technology capacity of JD Digits has served over 400 million individual customers- including 8 million online and offline merchants, 700 financial institutions and 12,000 startups and innovative companies. JD Digits was ranked second on the 2018 Fintech 100 list by H2 Ventures and KPMG Fintech.
JD Digits announced the launch of JD Agriculture and Husbandry Academic Research program on 20 November. JD Digits is pioneering JD Stockbreeding Intelligent Solution- equipped with AI, IoT, robots and edge computing capabilities- to digitalise agriculture sector.
Already, JD Stockbreeding Intelligent Solution has been introduced to pig-breeding industry, resulting in reduction of 30-50% cost, up to 10% fodder consumption and slaughter time to 5-8 days. Overall, the savings came to around USD 7.2 billion so far.
Shengqiang Chen said digital technology can accelerate industry’s development through internet, digitalisation and intellectualisation and reduce production costs, improve user experience, multiply revenue and upgrade industrial models.
JD Digits announced the launch of the JDD-2018 Global Digitalization Challenge, a worldwide competition set to attract top technology talents across the world. The competition, which got officially underway after being announced at the JD Discovery Conference, is divided into four regional sectors: mainland China, Hong Kong, the US and Israel. Champions from each region will be selected to participate in the final round in Beijing and the winners will get cash awards and potential employment opportunities with JD Digits.