JD - What's Going On With Alibaba Stock Thursday? | Benzinga
Alibaba Group Holding Ltd (NYSE:BABA) stock is trading higher Thursday amid reports that its central e-commerce unit, the Taobao and Tmall Group (TTG), is beta testing new AI tools for merchants on its Chinese online shopping sites. The stock is trading higher, close to 2% premarket.
This initiative, the first significant move since a leadership reshuffle in December, was announced at a recent sellers’ conference in Hangzhou.
TTG aims to enhance seller-consumer interaction by employing AI models to upgrade Dianxiaomi, a customer service chatbot, SCMP reports.
This upgrade will improve services in pre-and post-sales, data analysis, and online sales activities.
The improved Dianxiaomi, currently in tests with selected sellers, will be available to all merchants by June, boasting an 85% accuracy rate in response time.
These developments at TTG are part of Alibaba’s strategy to stay competitive against domestic rivals like JD.com Inc (NASDAQ:JD) and emerging platforms such as PDD Holdings Inc (NASDAQ:PDD) Pinduoduo and Bytedance’s Douyin.
Adopting AI tools underlines TTG’s commitment to innovation under the leadership of new CEO Eddie Wu Yongming. In addition to these AI ...