Alibaba, navigating sea change, reorients business towards bread-and-butter e-commerce and AI, pares down overhaul

By March 2023, Alibaba had lost three quarters of its value from the peak in October 2020, as the e-commerce giant, once seen as China’s answer to Amazon.com, faces questions on whether it can recapture its former glory while dealing with China’s economic slowdown, regulatory scrutiny and fierce competition from old and new rivals. The … Read more

Chinese firms lag behind US peers in AI development ‘by two years’, Alibaba chairman Joe Tsai says

“China is somewhat behind, obviously,” Tsai said, citing how ChatGPT creator OpenAI has leapfrogged the rest of the tech industry in AI innovation, in a podcast interview published on Wednesday with Nicolai Tangen, chief executive of Norges Bank Investment Management – the branch of Norway’s central bank that is responsible for managing the world’s largest … Read more