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Jack Ma, the founder of Alibaba Group Holding, said that he believed the Ant Group would perform beyond expectations in the AI space within the next twenty years. Ant disclosed that it was expanding its AI-powered business to include products in healthcare, entertainment, dining, finance, and ride-hailing. In one of his rare public appearances, Ma spoke at the Ant Group’s 20th-anniversary celebrations, expressing enthusiasm for Ant’s AI-powered future. He mentioned the opportunities captured through the internet in the last 20 years and emphasized that AI would bring an even greater future with changes ‘far beyond imagination’.  Jack Ma acknowledges Ant’s benefits from past challenges Jack Ma makes rare speech at Ant Group’s 20th anniversary https://t.co/u7HtUip8gD — South China Morning Post (@SCMPNews) December 9, 2024 The billionaire Jack Ma said he expected ‘more miracles’ for Ant in the next twenty years as the fintech giant leveraged AI to expand its business. His speech at the Ant Group’s event was the first time he publicly addressed the company’s team since Ant withdrew its IPO in November 2020. Jack Ma pointed out that past challenges and tests have helped fintech mature and benefit from criticism.  Since then, the fintech firm has overhauled its business model to comply with financial regulation. Ant has also reorganized its units to push for breakthroughs in AI-powered products that play key roles in people’s lives in China. He said: “We were lucky to capture the Internet opportunities 20 years ago…In the next 20 years, AI will bring changes far beyond the imagination, AI will bring on an even greater era.” – Jack Ma A Reuters report claimed that Alipay, owned by Ant, controlled over half of the mobile payment market at the end of 2023. Statista estimated that China’s mobile payments services would process over $8 trillion in…

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Filed under: News - @ December 9, 2024 5:19 pm