Daniel Zhang, CEO of Alibaba Group, will step down from his role in the company's cloud business as part of its restructuring, with Eddie Wu set to take over, while Zhang will establish a technology fund with a $1 billion investment from Alibaba.
Alibaba's new CEO plans to prioritize artificial intelligence, user experience, and promoting a younger generation of leadership.
Alibaba plans to make its artificial intelligence model Tongyi Qianwen available to the public, signaling regulatory approval in China and emphasizing the importance of AI in the company's future strategy.
Alibaba Group Holding plans to make its AI model public, signaling a win from Beijing's tough-on-tech regulatory environment, but its cloud division spinoff is unlikely to offer a pure play on AI technology in the near future.
Alibaba Cloud has introduced several new AI services, including a platform-as-a-service offering called PAI-Lingjun Intelligent Computing Service, which will be available in Singapore and other regions outside of China, to handle tasks such as infrastructure provisioning, model access, and image processing based on generative AI. Alibaba Cloud also unveiled an AI acceleration offering and LLM-Based Conversational Search, a chatbot-as-a-service based on Alibaba's enterprise OpenSearch. Additionally, Alibaba's parent company announced plans to list its logistics operation, Cainiao, on the Hong Kong Stock Exchange to focus on its e-commerce and cloud activities.
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