As a technology company, Alibaba is investing heavily in artificial intelligence (AI) to improve its services. The trend of implementing AI is really crucial for many companies at the moment. Companies are investing more and more money in this technology, and Alibaba is doing the same.
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Alibaba advances in AI
As a technology company, Alibaba is investing heavily in artificial intelligence (AI) to improve its services. The trend of implementing AI is really crucial for many companies at the moment. Companies are investing more and more money in this technology, and Alibaba is doing the same.
Competing product from Alibaba
The tech giant recently announced that it will move into the top ranks of companies in AI adoption. Alibaba Cloud, a unit of Chinese tech giant Alibaba, has announced that it will be launching its own ChatGPT-style product called Tongyi Qianwen.
The Tongyi Qianwen competitor will initially be deployed on DingTalk, Alibaba's workplace communication software, and Tmall Genie, a provider of smart home appliances. The company announced the bold plans at the Alibaba Cloud Summit 2023 where it boasted that it will introduce a chatbot powered by artificial intelligence into all Alibaba products from enterprise communication to e-commerce.
Alibaba Group Holdings Ltd ADR share performance over the past 5 years. (Source: Investing) *
The company's plans in the field of artificial intelligence
The company has several plans in this field. One of the main goals is to improve the customer experience. Alibaba plans to use AI to provide personalized recommendations and improve the overall shopping experience on its platform. The company has already introduced AI-powered chatbots to help customers with their queries.
Other strategic goals include improving logistics and supply chain management with the help of AI. Alibaba is using AI to optimise its logistics operations and supply chain, including delivery routes, inventory management and warehouse automation. It also plans to advance in developing autonomous driving technology. Alibaba is investing in autonomous driving technology through its subsidiary Alibaba DAMO Academy. The company aims to develop autonomous cars and delivery vehicles that can operate safely and efficiently on the road.
Currently, the biggest priority is also to develop a cloud platform powered by artificial intelligence. Alibaba Cloud, the company's cloud computing division, is developing a cloud platform powered by artificial intelligence that can provide various AI services such as machine learning, natural language processing and computer vision.
Another plan is to support research in the field of AI. Alibaba supports AI research through the Alibaba DAMO Academy, which has set up research labs in China, the United States, Israel and Singapore. Through these research activities, the company aims to advance AI technology and its applications.
Overall, Alibaba's AI plans focus on improving customer experience, optimizing logistics and supply chain management, developing autonomous driving technology, building an AI-powered cloud platform, and promoting AI research.
Adam Austera, Chief Analyst at Ozios
* Past performance is no guarantee of future results.
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