Alibaba decides to invest $1.4 Billion into AI. Is it worth it Mr. Ma

Alibaba, the Chinese multinational technology company announced that it is going to invest 10 Billion yuan which is roughly 1.4 Billion dollars into AI (Artificial Intelligent) and IoT (Internet of Things) hovering around Tmall Genie, it’s very own smart speaker which was launched in 2017. 

 

The E-Commerce giant stated that it continues its push into new technologies and business sectors beyond online shopping, beyond something more.

Alibaba also stated that money will be used to enhance Tmall genie more by adding more and more content into its database as well as develop proprietary or trademarked technology.

 

Similar to Amazon’s Alexa and Echo which is technically banned in China, Tmall Genie smart speaker can also interact with its users via voice interface and can do many exciting things with it like, play music, get weather insights, and whatnot.

Like Amazon, Tmall Genie also comes in various models, some of those models also feature displays. On Wednesday its latest model was announced which costs 549 yuan which is around $80 and comes with a 10-inch screen.

 

In the smart speaker sector, we can see the company is in the usual competition with Xiaomi Corp.and Baidu Inc. Recently in 2019, Alibaba sold roughly 16.8 million smart speakers and Baidu around 17.3 million.