The future is intelligent: How Ant Group plans to transform healthcare with AI
Ant Group is known more for its Alipay digital payment system, but recently it has been pivoting to healthcare, assisted by AI. Ant Group Chief Technology Officer He Zhengyu speaks with Lianhe Zaobao senior writer Lee Kuo Ai on what makes this new chapter of Ant Group worth watching.
Singapore plays a pivotal role in Ant Group’s development blueprint.
Ant Group Chief Technology Officer He Zhengyu revealed that he has already visited Singapore three times this year. “Ant Group’s three core strategies are artificial intelligence (AI), Alipay’s ‘dual flywheel’ strategy (digital payment and digital connectivity) and internationalisation. Singapore is the location of our global headquarters, the centrepiece of our internationalisation strategy. This is why Ant International is based in Singapore.”
He explained that Ant Group is using Singapore as a strategic bridgehead linking Southeast Asia, Europe and South America, driving the global expansion of its payments, lending, cross-border finance and technology services. “Singapore has unique strengths: it has deep ties with China while also being a diverse economy with global influence. We hope to use Singapore as a hub to connect with the world.”
“Singapore and Hong Kong each serve different roles. Hong Kong will be our digital technology headquarters, while our global headquarters will remain in Singapore.” — He Zhengyu, Chief Technology Officer, Ant Group
The speculation that Ant Group might “withdraw from Singapore and shift back to Hong Kong” arose after the company and Alibaba jointly purchased office space in Hong Kong for HK$7.2 billion (US$925 million), marking a significant investment in the city and fuelling rumours of a potential headquarters relocation ahead of an upcoming IPO.
He addressed these rumours directly: “No. Singapore and Hong Kong each serve different roles. Hong Kong will be our digital technology headquarters, while our global headquarters will remain in Singapore.”
A new era with AI at its core
On Ant Group’s overall development, He described the period from Alipay’s genesis in 2004 to the present day in 2025 as a journey through three technological cycles.
He recalled: “We expanded from payments into financial services, building what was likely China’s largest wealth management and insurance platforms, and grew our credit lending business. The past decade was truly the decade of Ant Financial.”
Looking ahead, He said that since Ant Financial became Ant Group in June 2020, the company has been upgrading its strategy. “We aim to evolve from a financial services enterprise into a comprehensive services company, investing across multiple technological fields. We see this as the decade of Ant Technology,” he said.
In other words, this “third decade” will be a new era with AI at its core.
... today, Ant Group intends to use AI to reshape every aspect of the services sector. — He
He said: “In the past, we talked about ‘fintech’, but now we aim to become a real AI company. We’ve even coined a new term: technovation.”
He likens the group’s transformation to “a new technological revolution after the QR code”. QR codes once changed the way China paid for things; today, Ant Group intends to use AI to reshape every aspect of the services sector.
Revolutionising the medical field
Ant Group’s AI transformation will not be limited to finance.
He said, “The value of AI should not be limited to financial services. Finance, education, healthcare — together they make up 70-80% of the entire services sector, and each of them is a multi-trillion-RMB market.”
In June this year, Ant Group launched AQ, its AI healthcare app offering doctor recommendations, medical report analysis, and personalised medical advice. He revealed that recent data showed the app had over ten million active users per month, asking numerous medical questions on the platform.
“In today’s era, AI combined with healthcare presents a very promising ‘industry’. Therefore, following the launch of the AQ application in China, we also plan to release an English version targeted at the global market next month. The English version of AQ will be similar to ChatGPT, but it will specifically focus on healthcare and medical fields”.
On the healthcare sector, He mentioned that the group ventured into healthcare as far back as ten years ago.
Initially, Ant Group facilitated healthcare payments by digitising China’s medical insurance cards and integrating them into Alipay. Currently, 70% of medical payments in China are completed through Alipay.
Subsequently, Ant Group connected almost all Tier 3 hospitals in China — the most authoritative and technologically advanced top-level hospitals — gradually integrating payment and appointment processes in medical services.
He believes that medical knowledge is a vast field, and AI is particularly adept at absorbing and analysing such extensive knowledge. In the next three to five years, AI would become the most revolutionary force in the medical field.
With the support of AI, Ant Group is now moving towards higher-level intelligent services such as medical knowledge and diagnostic assistance.
He believes that medical knowledge is a vast field, and AI is particularly adept at absorbing and analysing such extensive knowledge. In the next three to five years, AI would become the most revolutionary force in the medical field.
AI opens doors
He also categorised the group’s AI strategy into three layers: enhancing efficiency, expanding business and harnessing AI’s transformative power.
AI led to improvements in business and work efficiency — the most comprehensible and direct change. As for business expansion, AI enables the group to enter industries and fields that were previously inaccessible, with the medical sector being a prime example.
“AI has given us the key to enter the healthcare industry. Without AI, we would not have this opportunity”.
In September 2024, the group acquired Haodf.com, a leading internet healthcare platform in China, and plans to promote services like online consultations and beauty and health services under a compliant framework.
He said, “The group has the potential to become a true AI enterprise. Our data and technology could power a popular product, similar to ChatGPT. We may launch a new intelligent service for consumers in China this month, but now is not the right time to share details.”
The business model will emerge
On the return on investment, like ChatGPT, their AI initiatives have yet to break even. When developing artificial general intelligence (AGI) services, He said it is crucial to maintain a steady base of users and subscribers.
“The final commercial form of AI may be unknown, but with users, trust and value, the business model will emerge.” — He
“From our experience, if you have users and a business model they value, opportunities will follow,” He said, seeing AI as a creator of new business models, much like the internet.
“When the internet first appeared, no one imagined online advertising. It emerged naturally as the internet spread. We’re not in a hurry,” he added. “The final commercial form of AI may be unknown, but with users, trust and value, the business model will emerge.”
Before the interview ended, He concluded, “Through AI, we can make everyone’s life better. At Ant Group, our goal is to use the best technology to provide the most inclusive services worldwide. This is our vision.”
This article was first published in Lianhe Zaobao as “集团首席技术官何征宇：“成年”蚂蚁集团从支付跨界到AI医疗”.
