Alibaba co-founder Jack Ma expressed optimism about Ant Group’s future, emphasizing the transformative potential of artificial intelligence for the fintech giant. Speaking at Ant Group’s 20th-anniversary celebration on Sunday, Ma made a rare public appearance following a period of regulatory challenges that began with the suspension of Ant’s IPO in 2020.
Ma praised the opportunities afforded by the digital revolution and highlighted AI as a game-changer for the next two decades. “The great changes brought by the AI era in the next 20 years will exceed everyone’s imagination,” Ma said, according to Chinese media outlet 36kr. He also reflected on the setbacks Ant faced, acknowledging that both criticism and support had driven the company’s growth.
Once valued at over $300 billion before its IPO was halted, Ant Group operates Alipay, a dominant mobile payment platform in China. The company has since restructured to align with stricter financial regulations, including a transfer of Ma’s control in 2023. Ant also announced a leadership transition, with President Cyril Han set to replace Eric Jing as CEO on March 1, signaling continued organizational changes as it adapts to the evolving regulatory and technological landscape.
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