In an exciting move to push the boundaries of artificial intelligence, Alibaba Group and its fintech partner, Ant Group, have joined forces with the Zhejiang provincial government. These two powerhouses, both hailing from Hangzhou, Zhejiang’s heart, are on a mission to drive local economic growth and elevate AI capabilities.
The partnership was officially sealed during a ceremony in Hangzhou, with Governor Liu Jie, Alibaba Chairman Joe Tsai, and Ant Chairman Eric Jing Xiandong taking center stage. Adding to the momentum, Deputy Governor Lu Shan inked additional agreements with Alibaba CEO Eddie Wu Yongming and Ant CEO Han Xinyi.
What’s the plan, you ask? The focus is on weaving AI into government strategies, aligning with the national vision. While the nuts and bolts of the strategies are still under wraps, China’s Premier Li Qiang recently introduced the “AI Plus” initiative. This initiative is all about expanding the use of large language models across various sectors.
In the financial world, Alibaba’s stock, which owns the South China Morning Post, got a 1.4% boost in Hong Kong after the announcement. This uptick reflects a wave of market optimism.
Alibaba and Ant Group are proving to be key players in China’s dynamic AI scene, showing their dedication to tech advancement and innovation. They’re not just keeping up with the pace—they’re setting it.
