Alibaba Group saw its artificial intelligence (AI) offerings drive growth in its retail and cloud businesses in the quarter ended September 30.
“This quarter, our core business segments maintained steady growth, driven by our user-centric, AI-driven strategy,” said Alibaba Group CEO. Eddie Wu said Friday, November 15 at the company meeting quarterly results call.
In his Taobao and the Tmall groupthe company has seen a steady increase in merchant adoption of its AI-powered marketing tool, Quanzhantui. Alibaba expects merchants to increase their marketing spend on its platform as they see the tool improve their marketing effectiveness, according to an article published Friday. publication of results.
Alibaba saw its revenue increase year over year. Cloud Intelligence Group accelerate during the quarter. According to the release, the company saw double-digit growth in its public cloud products, driven in part by increasing adoption of AI-related products and triple-digit growth in its AI-related products. .
During the quarter, the company introduced upgrades to its Qwen big model familyincluding the launch of its open source Qwen 2.5 series; reduces API call rates to make advanced AI technologies more affordable for customers of its Qwen models; and upgraded its AI infrastructure to improve its scalability and performance, the release said.
The company also highlighted this month’s unveiling of its AI-powered search engine for global searches. B2B procurementwhich searches for wholesale products in response to text or image prompts from businesses.
“This new product reinvents international sourcing through conversational search, making global sourcing easier for (small and medium-sized businesses) while improving the platform’s overall transaction efficiency.” » Fan JiangCEO of Alibaba International Digital Commerce Groupsaid during the call.
Wu said on the call that Alibaba believes the AI era is just beginning; The “AGI transformation” is only just beginning, and AI is poised to transform not only the digital world but every industry in the physical world.
“As a leading AI cloud service provider in China, we will continue to invest in advanced AI technologies and infrastructure while optimizing operational efficiency,” Wu said. “This will enable us to deliver more reliable and cost-effective AI technologies and products across all industries. We believe that as AI penetration increases, Alibaba Cloud’s cloud computing and AI products will become the fundamental infrastructure that supports development across industries.
