Alibaba's headquarters in Hangzhou, East China's Zhejiang Province Photo: cnsphoto

Eddie Wu Yongming, new CEO of Alibaba Group, announced two strategic focuses for the company on Tuesday which he cited as being "User First" and "AI-Driven" approaches in the face of growing market competition. 

And, the Chinese e-commerce giant will increase investment in technology-driven Internet platforms, AI-driven technology innovations and globalized business networks. The companies will try to transform business operations.

Wu is the company's fourth CEO. He emphasized the importance of integrating AI solutions into various business segments, stating each business generates different use cases that need to be transformed into AI applications. 

Wu believes that new technology including artificial intelligence (AI) is becoming a new driving force for global business development. 

In a letter to company employees, Wu also put forward clear requirements for promoting a young managerial teams. In four years, the company plans to take the 1985s and 1990s managers to senior managerial positions.

Alibaba Cloud, the digital technology department of Alibaba Group launched its large language model (LLM) Tongyi Qianwen in April, which allows AI content generation.

Wu said he believed that by returning to a startup mindset, not dwelling on the past, and embracing new approaches, Alibaba could achieve new enormous growth and create even greater value in the era of AI.

China's tech giants see AI as the next tech wave of opportunity and have invested heavily to compete in the field. On February 7, Baidu.com released its first LLM Wenxin Yiyan, and opened it to the public on August 31, aiming to compete with chatbots such as ChatGPT. Other Chinese companies, including Huawei, Tencent, and iFlytek, have also launched their own AI projects.