Artificial Intelligence And Small And Micro Enterprise Financing

China's small,medium and micro enterprises have been important participants and beneficiaries of the reform and opening up for more than 40 years.Especially in recent years,small and micro-enterprises have developed rapidly and occupy an important position in the national economy.However,in terms of obtaining the formal financial support,small and micro-enterprises are undoubtedly "vulnerable groups",and the problem of difficult and expensive financing still exists.Especially in the context of slowing economic growth and a tendency of lacking liquidity,the problem is even more prominent,and the topic of small and micro-enterprises financing once again received widespread attention from the state and society.Information asymmetry in the credit market can lead to credit rationing and market failure,which is an important reason for the financing dilemma of small and micro-enterprises.In recent years,artificial intelligence(or “AI”)driven by deep learning has made great progress,and is widely used in various fields as a prediction technology capable of reducing prediction costs and improving prediction accuracy.As far as the credit market is concerned,it is not only a key area actively explored by financial institutions and technology companies in reality,but also a hot issue studied by scholars in academia to eliminate information asymmetry in the credit financing process of small and micro-enterprises by using AI technology,so as to solve the problem of difficult and expensive financing and promote the healthy development of small and micro-enterprises.Therefore,the purpose of this paper is to provide theoretical support and suggestions for AI technology to help solve the financing dilemma of small and micro-enterprises.Firstly,this paper establishes a credit rationing equilibrium model based on the information technology of banks,which shows that the imperfection of information technology is the main reason for the financing dilemma of small and micro-enterprises.Then,the background of AI is introduced into the model,weanalyze the advantages of information technology under the background of AI and discusse its impact on credit financing of small and micro-enterprises according to the model.Next,this paper discusses the characteristics and potential problems of AI applied to the financing business of small and micro enterprises,and takes MYbank as an example to briefly explain the actual application of AI in the credit financing of small and micro-enterprises and the results achieved.Finally,based on the above analysis,it is concluded that the financing dilemma of small and micro-enterprises is not a direct result of information asymmetry(risk)itself,but rather a result of the available information technologies for reducing information asymmetry.The application of AI can effectively reduce the information asymmetry of credit market,thereby solving the current problem of difficult and expensive financing of small and micro-enterprises.