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Jack Ma is quietly reasserting his influence over Alibaba Group Holding Limited’s (NYSE:BABA) artificial intelligence ambitions, turning up at Ant Group’s campus as the firm rolls out a new multimodal assistant called LingGuang.
Ma made a low-key visit to Ant Group’s Hangzhou campus on Tuesday, coinciding with the Chinese fintech giant’s launch of LingGuang, its next-generation multimodal artificial intelligence assistant.
Ma, who relinquished control of Ant Group and resigned from all corporate roles at Alibaba, toured the campus with Ant Group chairman Eric Jing Xiandong and CEO Cyril Han Xinyi.
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The visit came almost a year after Ma gave a rare public speech at Ant Group’s 20th anniversary in December, when he predicted that the changes brought by AI in the next 20 years will transcend imagination, SCMP reported.
The 61-year-old billionaire said Ant Group would continue using technology to drive “progress and changes” in people’s lives over the next two decades.
Ant Group unveiled LingGuang, an AI assistant, on Tuesday. It creates simple apps in about 30 seconds — from a calorie tracker and a Pac-Man-style game to a Chinese character memorization tool — based on natural language prompts.
Meanwhile, Alibaba Cloud — the AI and cloud-computing arm of e-commerce giant Alibaba — this week advanced beta testing of its consumer AI assistant, Qwen.
Alibaba stock has gained 81% year-to-date, backed by its cloud unit. Ma has returned to a hands-on leadership role at Alibaba, driving its renewed push into AI and intensifying competition with JD.com Inc. (NASDAQ:JD) and Meituan (OTC:MPNGY).
After retreating from public view during Beijing’s tech crackdown, he now shapes corporate strategy, presses executives on AI progress, and champions major initiatives, such as a 50 billion yuan subsidy program to counter rivals.
Analysts see Qwen as a potential super app for China’s AI era.
“Qwen and LingGuang, with their respective strengths, open up new opportunities for Alibaba to dominate the new AI gateway,” Zhang Yi, founder and chief analyst at internet consultancy iiMedia, said.
Alibaba Cloud’s Qwen AI assistant app targets the Chinese market and could compete directly with OpenAI’s ChatGPT.
Veteran venture capitalist Allen Zhu Xiaohu, managing director at GSR Ventures, stated that Alibaba aims to develop Qwen into a “super AI gateway” supported by its computing infrastructure, data resources, and extensive AI integration.
Price Action: BABA stock was trading lower by 1.81% to $150.50 premarket at last check Friday.
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