Hangzhou, China-based internet retail giant Alibaba Group Holding Limited (BABA) recently launched an Artificial Intelligence (AI) tool, Tongyi Wanxiang, which generates images from prompts. This generative AI offering could bolster the company’s prospects.
On the other hand, BABA is treading carefully in releasing such products in light of China’s regulatory crackdown on tech companies. Last Friday, Chinese regulators issued a 7.12 billion yuan ($992 million) fine for BABA’s financial arm Ant Group. This raised hopes that the prolonged scrutiny of Ant Group is finally coming to an end.
