Strategic investments will reinforce the Chinese giant’s global commerce network and tech business.
Alibaba’s new leadership seeks to reclaim customers and market share amid mounting domestic economic headwinds.
Wu stressed Alibaba must adjust its approach to go AI-first, while not forgetting the hundreds of millions of users that helped create one of China’s largest corporations. The Hangzhou-based ecommerce leader will reinforce strategic investments in the areas of AI-driven tech businesses, internet platforms and its global commerce network, Wu said.
While the company’s gradually rebounding from a two-year-long tech crackdown imposed by Beijing, it continued to encounter more uncertainties as Zhang unexpectedly quit over the weekend, having only months earlier accepted the role of steering its key Cloud Intelligence Group. After weathering some of the worst blows from China’s tech crackdown, the ecommerce leader has to secure its top spot against competitors like JD.com Inc. and upstarts like ByteDance while executing a complex plan to split into six major business units.
Alibaba joined a global race this year to stake out a spot in the emergent field of AI, considered critical to advancing not just tech companies but national strategic imperatives.
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