Alibaba is shifting its strategic focus towards artificial general intelligence (AGI), as CEO Eddie Wu emphasized its significance during a recent earnings report. The company announced plans to invest $53 billion in AI and cloud computing over the next three years, amidst rising competition with US tech giants. With an 8% rise in quarterly revenue and a profit surpassing expectations, Alibaba views AGI as pivotal for future business value and a potential reshaping of global industries, which could significantly impact GDP by enhancing or replacing a substantial portion of existing human capabilities.
"We aim to continue to develop models that extend the boundaries of intelligence," said Eddie Wu, Alibaba's CEO, on Thursday. He called the pursuit of AGI the company's "first and foremost goal."
"The pursuit of AGI can contribute immense business value," said Wu, citing studies indicating that AGI - when achieved - could replace or achieve 80% of human capabilities.
"If AGI can be achieved, then that could have a tremendous impact in terms of the restructuring industry around the world. It could have a significant influence on or even replace 50% of global GDP," he said.
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