What's Going On With Alibaba Stock Friday?

Alibaba Group Holding Limited BABA stock is trading higher Friday as it seamlessly integrated its advanced language model, Tongyi Qianwen, into its renowned e-commerce platform, Taobao. This integration is part of a broader effort to deploy artificial intelligence (AI) across the Alibaba ecosystem. 

Tongyi Qianwen, powered by generative AI, now acts as a personalized assistant within the consumer-to-consumer marketplace, Taobao. 

It offers tailored recommendations and support to users, enhancing their shopping experience, Alizila reports.

Also Read: Baidu and ByteDance Unveil AI Chatbots, Setting Stage for Rivalry with Microsoft, Google

The company also underwent a significant management transition this week as Daniel Zhang relinquished his position as the Chair and CEO of Alibaba's prominent cloud division to CEO Eddie Wu on an interim basis.

Alibaba Group's CEO, Eddie Wu, emphasized the company's core strategies moving forward as "User First" and "AI-driven." Alibaba Cloud launched the Tonyi LLM in April.

While Alibaba boasts hundreds of millions of users, it has faced growing competition from companies like ByteDance Ltd in social media and Baidu Inc BIDU in AI.

Taobao users can access Tongyi Wenwen through the Taobao app, engaging with the chatbot to aid their searches. 

Leveraging its comprehensive understanding of the text and generative capabilities, the AI assistant assists users by suggesting pertinent queries and providing detailed product recommendations in various formats, including text and short videos. While currently in testing by Alibaba staff, the AI-powered tool is set for broader release.

Apart from enhancing e-commerce searches, the AI assistant demonstrates versatility by performing various tasks, from crafting detailed travel itineraries to composing product promotion posts. 

Taobao and Tmall Group, in collaboration with Alibaba's Aicheng Technology unit, have also introduced an open-source LLM training framework called Megatron-LLaMA. 

This framework simplifies the training process for large language models in distributed clusters, making it more accessible and cost-effective for developers.

In a separate move, Alibaba Cloud has made Tongyi Qianwen publicly available through its official website and for enterprise use via the Tongyi API. Initially limited to beta testing, the proprietary model garnered over 200,000 beta testing requests shortly after its launch in April.

Price Action: BABA shares traded higher by 0.23% at $88.20 premarket on the last check Friday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.