Ping An Appoints AI Expert Ray Wang as Chief Technology Officer to Accelerate Comprehensive Digital Transformation

Rhea-AI Summary

Ping An Insurance (PNGAY) has appointed Ray Wang as its new Chief Technology Officer and General Manager of Ping An Technology. Wang, who brings nearly 20 years of experience in finance and technology, previously held senior positions at Google, Bloomberg, Baidu, and Ant Group.

The appointment aims to accelerate Ping An's digital transformation through the integration of large language models and big data platforms across five key digital systems. The company's technology foundation includes nine major databases, five laboratories, and three technology companies, supported by over 21,000 technology developers and 3,000 scientists.

As of March 2025, Ping An has secured 45 championships in AI competitions and filed 55,435 patent applications, positioning itself as a leader in financial technology innovation.

Positive

• Appointment of highly experienced CTO with strong background from major tech companies (Google, Bloomberg, Baidu, Ant Group)
• Robust technological infrastructure with 21,000+ developers and 3,000+ scientists
• Strong innovation track record with 55,435 patent applications and 45 AI competition championships
• Clear digital transformation strategy across five key digital systems

Negative

• None.

HONG KONG and SHANGHAI, July 29, 2025 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. ("Ping An", the "Company" or the "Group", HKEX: 2318; SSE: 601318) has announced the appointment of Mr. Ray Wang as the Group's Chief Technology Officer (CTO) and General Manager of Ping An Technology. The appointment of Ray Wang will significantly enhance the Company's research and development (R&D) and application capabilities in artificial intelligence (AI). His leadership is expected to drive the deep integration of Ping An's self-developed large language models and open-source big data platforms, accelerating the establishment of five key digital systems "digital business, digital operations, digital management, digital marketing, and digital services." This move aims to inject strong momentum into the Company's technology-enabled "integrated finance + health and senior care" dual-driver strategy, further advancing its comprehensive digital transformation.

Ray Wang holds a master's degree in computer science from the National University of Singapore. Prior to joining Ping An, he held senior technical management roles at globally renowned companies such as Google and Bloomberg. In 2015, Wang became Chief Architect at Baidu, where he spearheaded the development of Baidu Wallet and financial services. In 2016, he joined Ant Group, serving as Vice President and CTO of Ant Fortune and Ant Insurance. At Ant Group, he led innovations in digital finance and AI, managing technical and research teams across wealth management, insurance, consumer finance, MYbank, and Zhima Credit. He launched pioneering generative AI products such as AI financial assistant and AI financial business assistant. With nearly 20 years of experience in the "finance + technology" sector, Wang brings extensive expertise in the digital transformation of financial services, the development and application of financial large models, top-tier technical skills, and exceptional innovation capabilities. 

In recent years, Ping An has been oriented by customer needs, focusing on empowering business scenarios as its core strategy. Ping An has continuously invests in R&D to build leading technological capabilities, which have been widely utilized to enable its core financial businesses and accelerate the development of its "integrated finance + health and senior care" ecosystem. This strengthened Ping An's internal smart application of business scenarios, while promoting the digital transformation of the industry as a whole. The Company has built a "953" technology foundation backed by the data of nine major databases, technical support from the five laboratories, and development and application services of the three technology companies, which creating an AI moat. As of the end of 2024, Ping An has a first-class technology team of over 21,000 technology developers and more than 3,000 scientists. As of March 31, 2025, Ping An cumulatively won 45 championships in domestic and overseas AI competitions and cumulatively filed 55,435 patent applications, leading most international financial institutions.

About Ping An Group

Ping An Insurance (Group) Company of China, Ltd. (HKEx:2318 / 82318; SSE:601318) is one of the largest financial services companies in the world. It strives to become a world-leading provider of integrated finance, health and senior care services. Under the technology-driven "integrated finance + health and senior care" strategy, the Group provides professional "financial advisory, family doctor, and senior care concierge" services to its nearly 240 million retail customers. Ping An advances intelligent digital transformation and employs technologies to improve financial businesses' quality and efficiency and enhance risk management. The Group is listed on the stock exchanges in Hong Kong and Shanghai. As of the end of December 2024, Ping An had more than RMB12 trillion in total assets. The Group ranked 27^th in the Forbes Global 2000 list in 2025 and 47^th in the Fortune Global 500 list in 2025. 

For more information, please visit www.group.pingan.com and follow us on LinkedIn - PING AN.

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SOURCE Ping An Insurance (Group) Company of China, Ltd.

FAQ

Who is Ray Wang, the new CTO of Ping An Insurance (PNGAY)?

Ray Wang is an AI expert with nearly 20 years of finance and technology experience, previously holding senior positions at Google, Bloomberg, Baidu, and Ant Group. He holds a master's degree in computer science from the National University of Singapore.

What is Ping An's technology infrastructure as of 2025?

Ping An has a '953' technology foundation comprising nine major databases, five laboratories, and three technology companies, supported by over 21,000 technology developers and 3,000 scientists.

How many patents has Ping An (PNGAY) filed?

As of March 31, 2025, Ping An has cumulatively filed 55,435 patent applications, leading most international financial institutions.

What is Ping An's digital transformation strategy under the new CTO?

The strategy focuses on integrating self-developed large language models and open-source big data platforms across five key digital systems: digital business, operations, management, marketing, and services.

What are Ping An's recent achievements in AI technology?

Ping An has won 45 championships in domestic and overseas AI competitions and maintains a technology team of over 21,000 developers and 3,000 scientists.