China’s Ant Group declared that it would have spent a record 21.19 billion yuan ($2.92 billion) on technical research and development by 2023.
China’s Ant Group announced on Thursday that, in 2023, it would have invested a record 21.19 billion yuan ($2.92 billion) on technological research and development, with a major emphasis on artificial intelligence. The company gained permission from the Chinese government last year to market items driven by its “Bailing” artificial intelligence (AI) large language model. Ant revealed the investments in its 2023 sustainability report.
As part of the article, the financial affiliate of the massive e-commerce company Alibaba Group (9988.HK) stated that the model has been powering a number of AI assistants on its Alipay platform, such as a “smart financial manager” and a “smart healthcare manager.”
Also read: Unveiling the Ethical Imperatives: Navigating the Intersection of AI and Cybersecurity
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