Why Recessions Forge Great CEOs Who Think Beyond Cost-Cutting
04/15/2025
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But the CEOs who make history in downturns aren’t the ones with the deepest cuts
April 12, 2023: On Tuesday, Alibaba Cloud, the cloud computing unit of Chinese tech company Alibaba, announced that it would be rolling out its own ChatGPT-style product Tongyi Qianwen.
Tongyi Qianwen, which possesses Chinese and English language capabilities, will initially are deploying on DingTalk, Alibaba’s workplace communication software, a provider of intelligent home appliances, the firm stated.
Hong Kong-listed shares of Alibaba are gaining traded more than 3% higher following the announcement but have since pared some gains. Shares of Baidu in Hong Kong decreased by 6%.
At the 2023 Alibaba Cloud Summit, the firm said it will roll out the artificial intelligence-powered chatbot into all Alibaba products, from enterprise discussion to e-commerce, in “the near future.” It did not reveal a timeline.
“We are at a technological watershed moment supported by generative cloud computing and AI, and businesses in all the sectors have started to embrace intelligence changes to stay ahead of the game,” said Daniel Zhang, CEO of Alibaba Group and Alibaba Cloud Intelligence.
Alibaba said that it was working on a ChatGPT rival in February.
“The new AI model will be integrated throughout Alibaba’s various businesses to make a better user experience shortly. The company’s customers and developers will have allowance to the model to make customized AI features cost-effectively,” the company said.
Alibaba Cloud will present its client’s access to Tongyi Qianwen on the cloud and support build customized significant language models.
The chatbot will be ″fine-tuned″ with proprietary data from clients, decreasing resources and costs for these firms. Alibaba Cloud’s enterprise customers in China can access Tongyi Qianwen for beta testing.
“We hope to facilitate businesses from all the companies with their intelligence transformation and help develop their business productivity and create their expertise and capabilities while unlocking more exciting chances through innovations,” said Jingren Zhou, the Alibaba Cloud Intelligence CTO.
The company said developers in China could also apply for beta analysis of Tongyi Qianwen to make their AI applications at scale.
But the CEOs who make history in downturns aren’t the ones with the deepest cuts
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But the CEOs who make history in downturns aren’t the ones with the deepest cuts
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