🌐 AI-Powered Tool Launch
Alibaba will launch an AI-powered "conversational sourcing engine" in September. This tool aims to streamline the global B2B sourcing process for small- to medium-sized businesses (SMBs). Kuo Zhang, president of Alibaba.com, highlighted the tool's ability to quickly and accurately match business buyers and sellers using natural language processing.
💡 Enhancing Search and Comparisons
The AI engine transforms natural language into professional sourcing requests and reorganizes supplier information for direct comparisons. Alibaba stated, "This technology can level the playing field and significantly reduce costs, enabling SMBs to become integral players in the global supply chain."
📊 Leveraging AI and Data
The engine will use AI and data to facilitate business deals. Alibaba emphasized its 25 years of expertise in digital trade aspects like products, payments, logistics, customs, and currency exchanges. This AI tool aims to mimic having a sourcing professional by the buyer's side, enhancing the overall experience.
🚀 Expanding AI Use
Alibaba has already been using generative AI for translations and refunds on its platform, with about 500,000 sellers using these AI tools. The company spent a year identifying use cases for generative AI and formed a team of 100 engineers to develop these applications. In June, Alibaba launched a B2B marketplace solution, Alibaba Guaranteed, for simplified cross-border trade.
How will Alibaba's AI tool impact global B2B trade?
