Alibaba Expands US Presence with New AI Tools and Credit Card

At its second annual co-create event in Las Vegas, Alibaba's global B2B arm unveiled significant initiatives aimed at expanding its operations in the US market. Central to this effort is a partnership with MasterCard to introduce a new credit card tailored for businesses, designed to enhance capital access for small and medium-sized enterprises (SMEs). President of alibaba.com, Kuo Zen, emphasized the role of generative AI in facilitating seamless communication across diverse languages and time zones, thus accelerating global trade. Since the initial rollout of AI tools for sellers, there has been a considerable uptake, with over 20,000 customers in China and 10,000 internationally utilizing these innovations. The forthcoming tools for buyers serve not merely as a passive search but will facilitate a conversational approach, enabling users to articulate their needs more effectively. With US e-commerce making up 30-40% of Alibaba's transactions, Kuo sees substantial growth potential, especially given that the global trade market totals around $20 trillion yet remains under-penetrated digitally. As China experiences an economic slowdown, the international arm's acceleration—reporting a 30% increase in digital commerce—becomes crucial. Alibaba is poised to leverage technology and build a robust digital supply chain while addressing disruptions faced by buyers through a diversified supplier network. As political challenges loom, including potential tariffs, Alibaba plans to broaden its supply base beyond China, inviting 100 new suppliers into its global network, thereby bolstering its competitive edge in the global market.