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Speaking on stage at the Reuters Next Conference in Singapore, Zhang – head of Alibaba International Digital Commerce’s AI initiative – said he was bullish on the technology’s potential for the company, even in the face of increasing tensions between China and the United States.
“China is pretty much on par with the US in the rate of [AI] innovation,” said Zhang, who highlighted the global developments made in China and Europe in open-source AI technology.
The sprawling tech conglomerate has been grappling with how to make its global marketplaces, including AliExpress and Lazada, more competitive after restructuring its international e-commerce unit into a stand-alone business.
Alibaba’s advantages of an early head-start have faded in recent years, with sales and growth outshone by China-founded peers Shein and Nasdaq-listed PDD Holdings’ Temu.
According to Zhang, Alibaba International Digital Commerce Group now has 300 million consumers annually and more than one million merchants around the world.
The unit has become one of Alibaba’s brightest growth areas. Earnings grew 44 per cent in the December quarter from a year earlier.
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