(Yicai) Dec. 16 -- Shanghai ranked as the world's third-most competitive fintech center for the second straight year thanks to its fintech strength and development resilience, according to the latest list compiled by the city's fintech industry union.

Shanghai led the world in fintech uses and nearly caught up with San Francisco in artificial intelligence applications, according to the second edition of the Global Fintech Centers Index released by the Shanghai Fintech Industry Alliance at the sixth Shanghai Fintech International Forum on Dec. 13.

The top 10 cities on the list remain unchanged, with New York ranking first and London second, while Beijing took the fourth and Shenzhen the fifth spots.

Although Shanghai can still improve resource allocation and innovation investment compared with top cities, its status as an international financial hub is prominent with its complete infrastructure and a leading business environment across China, according to the alliance.

In addition, Shanghai AI Laboratory, Shanghai University of Finance and Economics, and Shanghai Kupasai Technology jointly released the 2024 Large Model Evaluation Report in Finance at the forum. The report is an in-depth analysis of 20 mainstream models from 14 institutions based on their basic, financial security and value alignment, financial risk control, financial professional cognitive, and financial business auxiliary expansion capabilities.

California-based Anthropic, Shanghai-based StepFun, and e-commerce giant Alibaba Group Holding ranked in the top three of the Large Model Evaluation Report.

Version 3.0 of the Star Wing Large Model, an AI model technology base and intelligent application platform designed for finance and economics developed by Yicai, was also unveiled at the event. The new version has content creation capabilities and strong abilities in intelligent editing and effective data mining, bringing users an unprecedented experience.

Editor: Martin Kadiev