Alibaba and Ant Team Up with Zhejiang Government to Boost AI Technology
Strategic Partnerships in AI
Alibaba Group Holding and its fintech affiliate Ant Group have partnered with the Zhejiang provincial government to advance artificial intelligence (AI) and economic growth in China’s Hangzhou region. The governor, Liu Jie, alongside Joe Tsai of Alibaba and Eric Jing of Ant, were present at the signing event. This collaboration will focus on implementing AI technologies and supporting key national strategies, as highlighted by Premier Li Qiang.
AI Investments and Upgrades
Alibaba has committed to investing 380 billion yuan (about US$52.4 billion) in AI infrastructure over the next three years, marking a significant investment for a private enterprise in China. Their Qwen AI model currently leads in the development of open-source large language models. Meanwhile, Ant has launched major upgrades in its AI healthcare solutions, making strides with its capabilities using locally sourced technology.
Supporting Local AI Innovations
Although startups like DeepSeek have made advancements in AI models, it remains essential for major firms like Alibaba and Ant to empower local businesses and government agencies with advanced AI tools. The partnership exemplifies a unified effort towards achieving strategic technological advancements in the sector.
Future Prospects and Confidence
Despite past challenges, including Ant's restructuring post-IPO withdrawal, both companies see significant potential in AI's future. Jack Ma has emphasized the transformative power of AI in driving new opportunities, echoing his belief that the next two decades will shape a new era in technology.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.