Alibaba group holding to invest 10 billion yuan in artificial intelligent system

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© Reuters. Staff member sits next to smart speaker Tmall Genie during a demonstration to the media inside a room of Alibaba Group's futuristic FlyZoo hotel in Hangzhou© Reuters. Staff member sits next to smart speaker Tmall Genie during a demonstration to the media inside a room of Alibaba Group’s futuristic FlyZoo hotel in Hangzhou

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SHANGHAI (Reuters) – Alibaba (NYSE:BABA) Group Holding Ltd will invest 10 billion yuan ($1.41 billion) into an AI (artificial intelligence) and IoT (Internet of Things) system centered around its Tmall Genie smart speaker, the company announced on Wednesday.

($1 = 7.1039 Chinese yuan renminbi)



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