Core Insights - The chairman of China Merchants Bank, Miao Jianmin, emphasized that the bank's investment in developing smart banking is aimed at optimizing resource allocation, which minimizes the impact on the input-output ratio compared to other companies that may suddenly increase capital expenditures [1][2] Group 1: Investment Strategy - China Merchants Bank has been consistently investing in artificial intelligence, which is not starting from scratch, thus the impact on input-output ratio is minimal [1] - The bank's approach to resource allocation allows for increased investment in AI without significant disruption [1] Group 2: Competitive Landscape - Miao Jianmin highlighted that the future differentiation in the banking industry will occur in two areas: operational and technological [2] - The bank has established a strong core competitiveness in the operational domain and aims to build a technological moat to maintain long-term competitiveness amid industry challenges [2]

招商银行董事长缪建民在该行2025年度业绩发布会上表示，对招行而言，打造智能银行是通过优化资源 配置来加大对人工智能的投入，不是从一张白纸开始。"和其他公司不同，他们可能以前没有投资，突 然间增加大量资本开支会影响盈利，而招行每年在金融科技方面都有大量投资，去年的规模达到129亿 元。所以从投入产出的角度来讲，对招行影响不大。" ...