Alibaba Group is shifting its focus on artificial intelligence from initial investment to large-scale commercialization, viewing AI as its primary growth engine. The company anticipates exponential growth in the AI market.

Alibaba Group Holding’s heavy investments in artificial intelligence have moved beyond the “initial” phase and entered “full-scale commercialisation”, the Chinese e-commerce and cloud computing giant says in a shareholder letter as it doubles down on AI as its next major growth engine. “We expect the addressable market for companies like Alibaba that provide full-stack AI capabilities is poised to grow exponentially,” chairman Joe Tsai and CEO Eddie Wu Yongming said in a joint shareholder letter...