Ant Group, a financial affiliate of Alibaba Group, has announced a record high investment of 21.19 billion yuan ($2.92 billion) in technology research and development for the year 2023. The company’s main focus was on AI technology, which has been approved by the Chinese government to be released to the public last year.
As part of its 2023 sustainability report, Ant Group revealed that its “Bailing” artificial intelligence large language model has been used to power various AI assistants on its Alipay platform, including a “smart healthcare manager” and “smart financial manager.” This shows the company’s dedication to integrating advanced technology into its services for the benefit of its users.
This significant investment in technology research and development underscores Ant Group’s commitment to staying at the forefront of innovation in the financial technology sector. By prioritizing advancements in AI technology, the company aims to enhance the capabilities of its platforms and provide more efficient and intelligent services to its customers.
Overall, Ant Group’s investment in technology research and development highlights its commitment to leveraging cutting-edge technology to drive growth and improve user experience. With a focus on AI technology, the company aims to continue delivering innovative solutions that meet the evolving needs of its customers in the digital age.
