Alibaba Group’s new chief executive has set the company’s two core strategic focuses as “user first” and “AI-driven,” according to a letter sent to staff on Tuesday.
Eddie Wu, who succeeded Daniel Zhang as CEO, said in the letter that the tech giant will recalibrate its operations around these two strategies.
He added that the company would bolster strategic investments in three areas: tech-driven internet platforms, artificial intelligence-driven tech businesses and global commerce network.
Wu said that as traditional internet models face rising pressure from market saturation, new technologies like AI are becoming the catalysts of global business growth.
“Alibaba must transform itself to find the key to the future,” he said in the letter. “If we don’t keep up with the changes of the AI era, we will be displaced.”
Wu also said the company “will adopt a more flexible and open governance system to strengthen independent decision-making,” and focus on promoting younger staff members to leadership positions.