Alibaba CEO: without artificial intelligence, the company will be "displaced" from the market

Alibaba's new CEO Eddie Wu has outlined strategic priorities for the Chinese tech giant in a letter to employees.

Here's What We Know

According to him, the company needs to be "user first" and "AI-driven" as well as "adopt a start-up mindset" to return to growth.

To do this, Alibaba has divided the business into six groups and plans to invest in three key areas:

• technology platforms to be open and work with partners, even competitors;
• artificial intelligence to create innovative solutions. Examples include Alibaba's cloud service and Tongyi Qianwen's language model;
• globalisation, expanding the company's international presence.

In addition, Wu promised to promote young cadres. By 2027, management will include employees born after 1985 and in the 1990s.

Source: CNBC