Wednesday, 19 June 2024
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Artificial Intelligence

Jack Ma claims that artificial intelligence will revolutionize e-commerce

  • Jack Ma expressed his continuous involvement in the company and his increased emphasis on AI.
  • The company’s shares have increased by more than 5% on the Hong Kong stock exchange.
  • Ma also declared that the AI age has just begun and promised to use AI to transform e-commerce.

Alibaba’s founder, Jack Ma, has made a comeback to the company. In a statement sent to staff members, he expressed his continuous involvement in the company and his increased emphasis on artificial intelligence.

Since Ma made his first public appearance in mainland China on March 28, the company’s shares have increased by more than 5% on the Hong Kong stock exchange, or over 8%. After going silent for three years because of China’s crackdown on the IT industry, Ma has sent out two notes in the last year.

Jack Ma

When compared to its 2020 peak, Alibaba’s stock has lost over $330 billion in value. Ma also declared that the AI age has just begun and promised to use AI to transform e-commerce.

The business has made investments in two generative AI startups—Moonshoot AI, valued at $2.5 billion, and Mini Max, valued at over $1 billion—that are in the field. Alibaba has been outpaced by peers like Tencent and Baidu in terms of regulatory scrutiny; Baidu already has a platform called Ernie that is similar to ChatGPT.

The document also supports Alibaba’s recent restructuring under new CEO Joe Tsai, which included splitting the company into six segments. Ma’s final letter to staff members reaffirmed confidence in the makeover by emphasizing that businesses that are prepared to change and make sacrifices are the ones that are genuinely admired.

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