Jack Ma, the founder of Alibaba Group Holding, delivered a public address at the 20th anniversary of Ant Group, the financial technology subsidiary of Alibaba, marking a significant moment in his recent public engagement. This event took place on Sunday evening, where Ma shared his insights and optimism regarding the future of Ant Group and the evolving landscape of technology in China.
Ma’s presence at this milestone event was particularly noteworthy as it was his first public address to Ant Group since the company’s withdrawal of its highly anticipated initial public offering (IPO) in November 2020, which had been set to take place in both Hong Kong and Shanghai. His previous silence followed a period of increased scrutiny of tech giants in China, during which he distanced himself from the company by announcing plans to relinquish control of Ant. Notably, by the end of 2023, China’s central bank had declared that Ant's mobile payments platform, Alipay, operates without an actual controller.
During his speech, Jack Ma congratulated the achievements of Ant Group, reflecting on the company’s journey alongside the evolution of the internet over the past two decades. He acknowledged the transformative impact of artificial intelligence (AI), asserting that the developments expected over the next 20 years would be beyond the scope of current imagination. “Twenty years ago, the internet had just begun, and my generation was fortunate to seize the opportunities offered by the internet,” Ma stated. “From today’s perspective, the changes brought by artificial intelligence in the next 20 years will go beyond everyone’s imagination, as AI will bring a greater era.”
Despite his resignation from corporate roles and a notably low profile in recent years, Ma remains a symbolic figure within China’s tech industry and is considered the spiritual leader of the expansive business empire he founded. His remarks come at a time when AI technology is rapidly transforming industry practices, leading to forecasts that suggest increasing automation across various sectors. The implications of these trends extend beyond mere business operations, potentially reshaping economic landscapes and employment structures.
Jack Ma attended the anniversary celebration alongside Eric Jing Xiandong, Ant Group's chairman, and Peng Lei, co-founder of the company. The gathering not only celebrated the past achievements of Ant Group but also served as a platform for discussing the future trajectories of fintech and AI innovations in China and beyond.
Source: Noah Wire Services