Ant Group Unveils AI-Powered Life Assistant in China
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China's Ant Group launches AI 'life assistant'
The fintech firm backed by Chinese e-commerce giant Alibaba has made a foray into products powered by artificial intelligence after announcing a "life assistant" mobile app. Ant Group said its Zhixiaobao app can help users "order meals, hail taxis, book tickets, and discover local dining and entertainment options" as well as access services in the digital payment app Alipay. Unveiled in Shanghai on Thursday, comes as tech giants such as Google, Meta and Microsoft ramp up investment in the AI market, with many firms 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 said in a news release. Since Ant's initial public offering was scrapped by Chinese authorities in 2020, the firm has been forced to overhaul its business model to satisfy financial regulators. Last year, it was fined 7.1 billion yuan (US$984 million) for "illegal" acts months after its billionaire founder Jack Ma relinquished control. The Hangzhou-based company saw its profits fall 10 percent in the January-March quarter, Bloomberg News reported, adding that Ant's valuation has fallen more than 70 percent since 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 company's large language model. The Chinese government gave the green light last year for Ant to offer products that used BaiLing. At the Shanghai event, the firm also announced AI-powered products for merchants, healthcare service users and insurance companies.
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China's Ant Group launches AI 'life assistant'
HONG KONG (AFP) - The fintech firm backed by Chinese e-commerce giant Alibaba has made a foray into products powered by artificial intelligence after announcing a "life assistant" mobile app. Ant Group said its Zhixiaobao app can help users "order meals, hail taxis, book tickets, and discover local dining and entertainment options" as well as access services in the digital payment app Alipay. Unveiled in Shanghai on Thursday, comes as tech giants such as Google, Meta and Microsoft ramp up investment in the AI market, with many firms 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 said in a news release. Since Ant's initial public offering was scrapped by Chinese authorities in 2020, the firm has been forced to overhaul its business model to satisfy financial regulators. Last year, it was fined CNY7.1 billion (USD984 million) for "illegal" acts months after its billionaire founder Jack Ma relinquished control. The Hangzhou-based company saw its profits fall 10 per cent in the January-March quarter, Bloomberg News reported, adding that Ant's valuation has fallen more than 70 per cent since 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 company's large language model. The Chinese government gave the green light last year for Ant to offer products that used BaiLing. At the Shanghai event, the firm also announced AI-powered products for merchants, healthcare service users and insurance companies.
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China's Ant Group has launched an AI-powered life assistant called Tongyi Wanxiang. This new tool aims to revolutionize daily tasks and enhance user experiences across various Alipay mini-programs.
Ant Group's Innovative AI Assistant
Ant Group, the fintech affiliate of Chinese e-commerce giant Alibaba, has made a significant leap in the artificial intelligence realm with the launch of its AI-powered life assistant, Tongyi Wanxiang 1. This cutting-edge tool is designed to revolutionize how users interact with various services within the Alipay ecosystem, China's leading digital payment platform.
Features and Capabilities
Tongyi Wanxiang boasts an impressive array of features aimed at simplifying daily tasks for users. The AI assistant can generate travel itineraries, provide recipe suggestions, and even offer skincare advice 2. These functionalities are seamlessly integrated into Alipay's mini-programs, enhancing user experiences across a wide range of services.
Integration with Alipay Ecosystem
The AI assistant is not a standalone application but rather an integrated feature within the Alipay platform. This integration allows Tongyi Wanxiang to leverage the vast amount of data and services available through Alipay's mini-programs, creating a more personalized and efficient user experience 1.
Market Impact and Competition
The launch of Tongyi Wanxiang comes at a time when competition in the AI sector is intensifying in China. Tech giants like Baidu and SenseTime have already introduced their own AI-powered chatbots, indicating a growing trend in the industry 2. Ant Group's entry into this space with a life assistant focused on practical, everyday tasks sets it apart from more general-purpose AI chatbots.
Future Prospects and Development
Ant Group has expressed its commitment to continuous improvement and expansion of Tongyi Wanxiang's capabilities. The company plans to collaborate with partners to develop more scenario-based AI applications, potentially transforming various aspects of users' daily lives 1. This ongoing development suggests that Tongyi Wanxiang could play an increasingly significant role in shaping the future of AI-assisted living in China.
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