Jack Ma, the billionaire cofounder of Alibaba Group, made a rare public appearance on Sunday to deliver a speech about artificial intelligence’s transformative potential over the next two decades. Speaking at an event celebrating the 20th anniversary of Ant Group, Alibaba’s fintech affiliate, Ma declared that AI will bring changes that “go beyond everyone’s imagination.”
In his first widely reported public appearance since March 2023, Ma drew parallels between today’s AI revolution and the internet boom of two decades ago. “Twenty years ago, the internet had just begun, and my generation was fortunate to seize the opportunities offered by the internet,” Ma said, according to The South China Morning Post. “From today’s perspective, the changes brought by artificial intelligence in the next 20 years will go beyond everyone’s imagination, as AI will bring a greater era.”
However, Ma emphasized that AI’s success depends on creating genuine value rather than simply deploying technology. “AI will change everything, but it doesn’t mean AI can dictate everything,” he stated. “While technology is important, the real truth to determine success or failure is whether we can create truly valuable and unique things in the coming era.” His comments were shared across multiple Chinese media outlets and social media platforms.
Ma’s appearance is particularly significant given his four-year absence from public life following a dramatic clash with Chinese regulators in 2020. Once one of China’s richest and most visible tech entrepreneurs, Ma largely vanished after criticizing financial regulators, which triggered a sweeping crackdown on his business empire. The fallout included an antitrust investigation into Alibaba, the suspension of Ant Group’s highly anticipated IPO, and Ma personally losing $12 billion of his fortune within months.
Since his disappearance in 2020, Ma has been spotted only occasionally. A Financial Times report in November 2022 indicated he had been living in Tokyo for six months, and he was later sighted in Bangkok, Thailand in January 2023. His March 2023 appearance at a school in Hangzhou marked his previous public sighting before this weekend’s speech.
During the Ant Group anniversary event, Ma also congratulated the company on its achievements and expressed confidence in the “next 20 years of Ant,” signaling his continued connection to the fintech giant despite his reduced public profile.
Key Quotes
From today’s perspective, the changes brought by artificial intelligence in the next 20 years will go beyond everyone’s imagination, as AI will bring a greater era.
Jack Ma drew parallels between the current AI revolution and the internet boom of 20 years ago, suggesting that AI’s transformative impact will be even more profound than the internet’s disruption of business and society.
AI will change everything, but it doesn’t mean AI can dictate everything. While technology is important, the real truth to determine success or failure is whether we can create truly valuable and unique things in the coming era.
Ma emphasized that simply deploying AI technology isn’t enough for success. This statement highlights his belief that genuine value creation and differentiation will be the key factors determining which companies and innovations succeed in the AI era.
Twenty years ago, the internet had just begun, and my generation was fortunate to seize the opportunities offered by the internet.
Ma reflected on how his generation capitalized on the internet revolution to build companies like Alibaba, implicitly suggesting that today’s entrepreneurs have a similar once-in-a-generation opportunity with AI technology.
Our Take
Ma’s reemergence with an AI-focused message is strategically significant. Rather than addressing his regulatory troubles or business challenges, he’s positioning himself as a forward-looking technology visionary—the role that originally made him famous. His nuanced take on AI, emphasizing value creation over mere technological deployment, reflects hard-won wisdom from building Alibaba and navigating China’s complex business environment.
The timing is notable as China races to compete with the United States in AI development. Ma’s public endorsement of AI’s transformative potential aligns with Beijing’s strategic priorities, potentially signaling his rehabilitation within China’s tech ecosystem. His emphasis on the “next 20 years” suggests he’s thinking long-term despite his recent setbacks, and his confidence in Ant Group indicates he remains connected to his business empire’s future direction, even if from a more distant position.
Why This Matters
Jack Ma’s rare public statement on AI carries significant weight for several reasons. As one of China’s most influential tech entrepreneurs and the architect behind Alibaba’s e-commerce empire, Ma’s perspectives on emerging technology trends have historically proven prescient. His comparison of AI to the internet revolution suggests he sees similar transformative potential and economic opportunities ahead.
Ma’s emphasis on creating “truly valuable and unique things” rather than simply deploying AI technology offers important guidance for the industry. This perspective counters the current hype cycle and suggests that sustainable AI success requires genuine innovation rather than superficial implementation. For businesses and investors, this signals that differentiation and real-world value creation will separate winners from losers in the AI era.
The speech also marks a potential turning point in Ma’s relationship with Chinese authorities. His willingness to speak publicly about technology’s future, particularly at an Ant Group event, may indicate a thawing of tensions or at least a stabilization of his position. This has implications for China’s broader tech ecosystem and regulatory environment, as Ma’s treatment has been viewed as a bellwether for how Beijing handles its most prominent tech figures.
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Source: https://www.businessinsider.com/jack-ma-alibaba-rare-public-appearance-ai-boom-2024-12