Jack Ma, the Chinese billionaire and founder of Alibaba, sees a major opportunity in artificial intelligence in the future of Ant Group, the e-commerce giant’s fintech subsidiary.
Jack Ma made a rare public appearance on Sunday, speaking at a 20th anniversary celebration for Ant Group, the fintech arm of Alibaba and of which he is a co-founder.
China’s best-known tech entrepreneur has avoided the spotlight in recent years after delivering an infamous speech four years ago criticizing the country’s regulatory system, sparking heated debate. Ant transformation and other technology industry companies.
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According to Chinese media 36Kr, yesterday, Jack Ma ushered in the artificial intelligence technology revolution.
“The changes will be huge beyond anyone’s imagination”
“Our generation is very lucky. We have seized the opportunities of the Internet age. “From today’s perspective, the huge changes brought about by the AI era in the next 20 years will exceed everyone’s imagination. “
He also expressed his gratitude for the experience and challenges Ant Financial has faced in the past few years. “It’s these encouragements and criticisms that help ants grow and mature,” he said.
In October 2020, Jack Ma publicly criticized Chinese regulators Ruined Ant’s planned mass listing group. Subsequently, China’s technology industry came under regulatory crackdowns, and Jack Ma largely withdrew from public life.
In May 2023, he served as a visiting professor and gave lectures in an organization organized by the University of Tokyo (Tokyo College) in Japan. University of Tokyowhich allow him to do research Permaculture and food production.
Ant Financial operates China’s ubiquitous mobile payments app Alipay, which some investors valued at more than $300 billion in mid-2020 before the IPO was called off. Alibaba holds a 33% stake in Ant Financial.
The fintech company has since made sweeping organizational changes to comply with financial regulations. Jack Ma was forced Give up control of Ant Group 2023.
Ant Group did not immediately respond to Reuters’ request for comment.
In July last year, Chinese authorities announced Ant Group fined nearly US$1 billion It ended a years-long regulatory overhaul of the fintech company for violating consumer protection and corporate governance laws.
On Sunday, Ant Group said it would promote chairman Cyril Han to replace Jing Xiandong as chief executive effective March 1.
- Reuters Additional editing by Jim Pollard
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Alibaba shares surge after news that it will split into six divisions
China’s Ant Group faces fine of more than US$1 billion after overhaul
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China’s Alibaba terminates corporate ties with Ant Group
