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Haikou Jiangdong New Area
News for Outlets

Alibaba to invest RMB10 bln in AIoT

May 21, 2020


Abstract : Chinese tech giant Alibaba announced on Wednesday that it would invest 10 billion yuan this year in the artificial intelligence (AI) plus Internet of Things (IoT) ecosystem centered around its smart speaker brand Tmall Genie.

BEIJING, May 21 (Xinhua) -- Chinese tech giant Alibaba announced on Wednesday that it would invest 10 billion yuan this year in the artificial intelligence (AI) plus Internet of Things (IoT) ecosystem centered around its smart speaker brand Tmall Genie.

This marks another move of Alibaba to win the AIoT market, following the upgrade of Tmall Genie to an independent business division in January.

With the investment, Tmall Genie will fully integrate with Alibaba's content and service capabilities in areas of culture, entertainment, health, education and shopping, and expand the ecosystem with the content industries.

Meanwhile, it will increase the research and development of products and technologies such as IoT chips, IoT operating systems, edge computing, multimodal interaction in partnership with Alibaba Cloud and Alibaba Damo Academy.

Tmall Genie also plans to join hands with partners to launch 100 intelligent products, with focus on computers, communication devices, consumer electronics, digital products, and home appliances. (Edited by Su Dan with Xinhua Silk Road, silviasu07@163.com)

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Keyword: Alibaba investment AIoT

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