A smart precipitation estimation method based on FY-4B meteorological satellite data (FY-4B_AI) is proposed in this paper. This method spatiotemporally matches 125 features derived from multi-temporal and multi-channels of FY-4B satellite data with the precipitation at stations. Then a precipitation model using the Light Gradient Boosting Machine algorithm is constructed. Comparative results between FY-4B_AI and GPM/IMERG-L products for over 450 million station cases throughout 2023 shows that: 1) FY-4B_AI is superior to GPM IMERG-L in the average absolute error, root mean square error, relative error, correlation coefficient, probability of detection and critical success index. While in the mean error and false alarm rate, FY-4B_AI is slightly inferior to GPM/IMERG-L. 2) Evaluation of strong weather event applications reveals that both FY-4B_AI and GPM/IMERG-L can accurately represent the spatial distribution characteristics of precipitation, no matter in the southeast humid region or the northwest dry region. Notably, FY-4B_AI, due to its higher spatiotemporal resolution, provides a more detailed distribution of precipitation.