Alibaba Group’s new chief executive, Eddie Wu, has announced the company’s two core strategic focuses in a letter sent to staff on Tuesday. Wu outlined the company’s commitment to putting users first and leveraging artificial intelligence (AI) technology.
In order to align with these strategies, Alibaba will recalibrate its operations. It plans to make strategic investments in three main areas: tech-driven internet platforms, AI-driven tech businesses, and the global commerce network.
Wu emphasized the importance of adapting to the changing business landscape, as traditional internet models face market saturation. He believes that new technologies, such as AI, are the key drivers of global business growth.
The CEO acknowledged that Alibaba needs to transform itself to thrive in the AI era. He expressed that failing to keep up with these changes could result in displacement.
In addition, Wu announced plans to implement a more flexible and open governance system that strengthens independent decision-making. The company will also prioritize promoting younger staff members to leadership positions.
Alibaba’s new strategic direction reflects its determination to stay ahead in the ever-evolving tech industry. By prioritizing users and embracing AI, the company aims to carve out a successful path for the future.