China’s Ant Group launches AI ‘life assistant’

The fintech agency backed by Chinese language e-commerce big Alibaba has made a foray into merchandise powered by synthetic intelligence after asserting a “life assistant” cellular app.

Ant Group mentioned its Zhixiaobao app may also help customers “order meals, hail taxis, book tickets, and discover local dining and entertainment options” in addition to entry providers within the digital fee app Alipay.

Unveiled in Shanghai on Thursday, comes as tech giants equivalent to Google, Meta and Microsoft ramp up funding within the AI market, with many corporations touting tighter integration of chatbots.

“Alipay is committed to harnessing AI’s potential to improve the user experience, ensuring that AI assistants like Zhixiaobao become valuable tools in everyday life for all,” Ant Group president Cyril Han mentioned in a information launch.

Since Ant’s preliminary public providing was scrapped by Chinese language authorities in 2020, the agency has been compelled to overtake its enterprise mannequin to fulfill monetary regulators.

Final 12 months, it was fined 7.1 billion yuan (US$984 million) for “illegal” acts months after its billionaire founder Jack Ma relinquished management.

The Hangzhou-based firm noticed its earnings fall 10 % within the January-March quarter, Bloomberg News reported, including that Ant’s valuation has fallen greater than 70 % because the aborted IPO.

Ant on Thursday described its new product as an “AI-native application powered by Ant Group’s BaiLing foundation model”, referring to the corporate’s massive language mannequin.

The Chinese language authorities gave the green light final 12 months for Ant to supply merchandise that used BaiLing.

On the Shanghai occasion, the agency additionally introduced AI-powered merchandise for retailers, well being care service customers and insurance coverage firms.

© 2024 AFP