Alibaba is banking on generative AI tools to help cross-border sellers, says CEO

Speaking on stage at the Reuters Next conference in SingaporeZhang, head of the AI initiative at Alibaba International Digital Commerce, said he was optimistic about technologythe company’s potential, even in the face of rising tensions between China and United States.

“China is practically on par with the United States in terms of the pace of (AI) innovation,” said Zhang, who pointed to China and Europe’s global development in open-source AI technologies.

The growing technology conglomerate is grappling with the problem of how to create its global markets, including AliExpress AND Lazadamore competitive after transforming its international e-commerce division into a standalone company.

Zhang Kaifu, a vice-president at Alibaba International Digital Commerce and head of its artificial intelligence initiative, speaks at the Reuters Next Conference in Singapore on July 9, 2024. Photo: Reuters — Zhang Kaifu, vice president of Alibaba International Digital Commerce and head of the AI initiative, speaks at the Reuters Next conference in Singapore July 9, 2024. Photo: Reuters

Alibaba’s early-mover advantage has eroded in recent years, with sales and growth dwarfed by Chinese rivals She in and listed on Nasdaq PDD Holdings‘ You.

According to Zhang, Alibaba International Digital Commerce Group currently has 300 million annual customers and more than 1 million sellers worldwide.

The unit has become one of Alibaba’s brightest growth areas, with profits rising 44 percent in the December quarter from a year earlier.