After Jack Ma’s holographic appearance at an AI conference, shares of this Chinese company soared

  • “At this year’s World Artificial Intelligence Conference (WAIC) in Shanghai, Alibaba Group Holding founder Jack Ma spoke on stage at the opening ceremony. But not in person – he appeared as a holographic projection at the event on July 9, which took place mostly online amid the coronavirus pandemic.
  • The global AR market is projected to grow nearly 70 per cent annually to reach 287 billion yuan (US$41 billion) by 2024, according to Qianzhan Industry Research Institute. Chinese tech giants including Tencent Holdings, SenseTime and Alibaba are among those developing products in the sector.”

It’s Time for Alibaba to Slay the Monster Jack Ma Created

  • “The Nov. 11 annual event, which has been going for a decade, started as a marketing gimmick for an upstart e-commerce company looking to draw a crowd. And it did. 
  • GMV (gross merchandise value) grew more than 4,000 times between 2009 and 2018, hitting $30.8 billion last year
  • Alibaba doesn’t want to be just an e-commerce company anymore. Zhang, who has risen through the ranks and took over as chairman from Ma two months ago, is hoping to lean more heavily on new businesses such as cloud computing, digital media and entertainment, offline retail, and local services such as deliveries.”

Photographer: STR/AFP/Getty Images

Daniel Zhang

CEO of Alibaba Group

Will Alibaba break its own record this 11.11 global shopping fest? And where is Jack Ma?

  • Billed as the world’s largest 24-hour online shopping event in terms of GMV, the 11.11 event has over 200,000 brands participating with more than a million new products on offer. Over 500 million users are expected to participate in this year’s festival – about 100 million more than last year.
  • Black Friday weekend had reportedly generated a total of $14.05 billion in online sales for 4,500 US online retailers over four days.
  • During India’s Diwali online shopping festival, sales split the e-tailer market share between Amazon India and Flipkart. Their combined market share was 90 percent in terms of merchandise volume, with Flipkart leading at 60-62 percent and Amazon India coming in at 28-30 percent.

Jack Ma: A.I. could give us 12-hour work weeks

Hector Retamal | AFP | Getty Images

“Billionaire Jack Ma, who stirred controversy when he made comments supporting 12-hour work days, now says with the advent of advanced technology and artificial intelligence, people should work 12-hour work weeks.

‘I think people should work three days a week, four hours a day,’ Ma, the founder of Alibaba, said at the annual World Artificial Intelligence Conference in Shanghai Thursday.

Microsoft founder Bill Gates told Fox Business at the World Economic Forum in 2018 that machine learning will allow humans to be more productive.

So ‘certainly we can look forward to the idea that vacations will be longer at some point,’ Gates said. ‘The purpose of humanity is not just to sit behind a counter and sell things. More free time is not a terrible thing.'”

Jack Ma’s US$290 bil loan machine is changing Chinese banking

  • “Jack Ma’s online bank is leading a quiet revolution in the way China lends to small businesses, taking aim at a credit bottleneck that has held back Asia’s largest economy for decades.
  • Using real-time payments data and a risk-management system that analyses more than 3,000 variables, Ma’s four-year-old MYbank has lent 2 trillion yuan (US$290 billion) to nearly 16 million small companies.
  • The whole process takes three minutes and involves zero human bankers. The default rate so far: about 1%.
  • China is quickly becoming a world leader in the use of big data and artificial-intelligence (AI) technology to make loans, according to Cliff Sheng, co-head of Greater China financial services at Oliver Wyman, a consulting firm.”