Alibaba Boosts E-Commerce Edge with AI, Despite Shrinking Market Share

Alibaba Boosts E-Commerce Edge with AI, Despite Shrinking Market Share

Alibaba Group Holding Ltd (NYSE:BABA), confronted by a fierce e-commerce market in China, is leveraging artificial intelligence to enhance its competitiveness.

On Alibaba’s Taobao platform, shoppers can utilize Wenwen, an AI chatbot, for personalized product recommendations, such as a Sony Group Corp (NYSE:SONY) camera priced at approximately $650, tailored to the user’s specifications, the Nikkei Asia reports.

Introduced in 2023, Wenwen is powered by Tongyi Qianwen, or Qwen, a large language model developed by Alibaba’s cloud division.

Also Read: Alibaba Stock Dips as Huge Investment Losses In Q4 Overshadow Revenue Growth and Dividend

In addition to aiding shoppers, Alibaba employs generative AI to streamline merchant operations, simplifying tasks like photo editing and virtual model creation.

Despite these innovations, Alibaba reported a net profit increase of 10% to 79.7 billion yuan ($11 billion) for the fiscal year ending March, with revenue growing 8% to 941.1 billion yuan.

Although Alibaba’s Taobao and Tmall platforms have seen their market share drop from 80% in 2017 to 37% in 2023, CEO Eddie Wu reported double-digit growth in gross merchandise value for these segments in the first quarter of the year.

Analysts flagged Alibaba’s double-digit year-on-year growth in GMV thanks to discounts. They expect cloud business to record double-digit growth in the back half of fiscal 2025.

BABA stock has lost over 4% in the last 12 months. Investors can gain exposure to the stock via Invesco Golden Dragon China ETF (NASDAQ:PGJ) and ProShares Online Retail ETF (NYSE:ONLN).

Price Action: BABA shares traded higher by 1.18% at $87.72 premarket at the last check on Friday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Alibaba Photo Via Shutterstock

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Experts share investment tips on building sustainable wealth

Building long-term personal wealth requires financial education, community support, and customized strategies tailored to one’s situation and goals. At the Yahoo Finance Invest Summit, finance executives Tonya Rapley and Haley Sacks sit down with Yahoo Finance’s Rachelle Akuffo to share insights on how individuals can foster their own financial prosperity amid economic uncertainty.

Rapley, CEO of Her Legacy Media, notes that community conversations help break down stigma and create open dialogues around money management. However, she says financial firms must go further to guide people from just generically saving cash to taking educated actions like investing in one’s retirement.

Sacks, Founder and CEO of Finance is Cool, emphasizes that building wealth via investing is an ongoing process, not a one-time event. Regularly setting aside money each month to invest is important. She also stresses that financial education makes an immense difference in ending up with millions as opposed to just thousands. Still, Sacks cautioned against rashly rebalancing portfolios during periods of volatility in the market, stating “Don’t touch your face if you have pimples, and don’t touch your portfolio.”

Regarding wealth creation through real estate, Sacks and Rapley noted today’s high mortgage rates make renting a better option now versus buying a home for many consumers. They encouraged putting would-be down payments into other wealth vehicles instead.

Overall, Sacks and Rapley advocate for customized financial guidance and community support so people can make informed money decisions tailored to their situations, whether saving, investing in markets or real estate, or renting. The traditional image of the “American Dream” now looks different for everyone.

Click here to watch more from Yahoo Finance Invest.

Video Transcript

RACHELLE AKUFFO: Now, obviously in this day and age, we have rising interest rates. People are really feeling pinched at the moment. So sometimes it can be

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Medical Carts Market Forecast 2023 to 2032 : Business Development, Size, Share and Opportunities

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Die Cut Lids Market Share, Global Demand, Growth, SWOT Analysis, Business Development and Sales Forecast 2023-2030

The latest research study released by Coherent Market Insights on “Die Cut Lids Market” with 100+ pages of analysis on business strategy taken up by emerging industry players, geographical scope, market segments, product landscape and price, and cost structure. It also assists in market segmentation according to the industry’s latest and upcoming trends to the bottom-most level, topographical markets, and key advancement from both market and technology-aligned perspectives. Each section of the Die Cut Lids Market business research report is specially prepared to investigate key aspects of the market. This document also entails a detailed analysis of the current applications and comparative analysis with a keen focus on the opportunities and threats and competitive analysis of major companies.

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Detailed Segmentation:

  • By Material Type:
    • Paper
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    • Food Products
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[2023-2029] PET Insulating Adhesive Tapes Market:Business Development, Size, Share and Opportunities

The investigate report by MarketsandResearch.biz, titled PET Insulating Adhesive Tapes Market attracts analysis, investigation, and estimations by applying responsible know-how all through the report. The report concentrates on prime players, current market segments, competitive landscape, and geographical growth. The report presents a detailed evaluation of key development motorists, vital segments, progress approaches, sector possibilities. The prime goal of this report is to guide the user in using critical conclusions connected to their small business. You will be capable to realize the world PET Insulating Adhesive Tapes market in conditions of its definition, segmentation, current market likely, influential traits, and the issues occurring in this marketplace. The report splits the market measurement, by volume and worth, on the basis of software variety and geography.

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Surveying Equipment and Instruments Market Analysis, Business Development, Size, Share, Trends, Future Growth, Forecast to 2029

The Surveying Tools and Instruments Current market report offers qualitative and quantitative insights as very well as a comprehensive assessment of the industry sizing and expansion charge of all likely current market segments. The report has been set with each other employing principal and secondary study methodologies, which offer you an precise and in depth comprehending of the Surveying Devices and Instruments sector. The Surveying Equipment and Devices Sector is projected to triumph at a CAGR of 4.5% all through 2023 – 2029.

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Vital gamers which are protected in the world-wide Surveying Equipment and Devices market is: Hexagon,Topcon Positioning Units,Trimble,Hello-Goal,CHC-Navigation,Suzhou FOIF,Stonex,South Surveying & Mapping Instruments,CST/Berger,Dadi Surveying Science & Engineering,KOLIDA-INDEX

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On the basis of Varieties:

GNSS Units

3D laser scanners

Controllers

Many others

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Design

Oil & Fuel

Agriculture

Mining

Other people

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The critical regions lined in

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