The co-founder of Ant and Alibaba spoke about the transformative potential of AI, marking his return to the public eye after regulatory hurdles derailed Ant’s record-setting initial public offering (IPO) four years ago.
“We were fortunate to seize the internet opportunity 20 years ago,” Ma said. “In the next 20 years, AI will bring changes beyond imagination, heralding an even greater era.”
He also acknowledged Ant’s growth through challenges, stating that criticism had matured the company.
Ant announced Cyril Han will succeed Eric Jing as CEO in March 2025, with Jing staying on as chairman.
Since Chinese regulators halted Ant’s IPO in 2020 and mandated a significant overhaul of its operations, the fintech giant has pivoted toward AI-driven innovations. These include AI-powered services in dining, ride-hailing, health care, and finance, which have become integral to everyday life in China. The shift is already paying off—Ant’s quarterly profits surged 193% as of June, reversing a prolonged decline.
Globally, Ant International is scaling up with its key operations—Alipay+, Antom, WorldFirst, and Embedded Finance—while setting up independent boards to prepare for potential spinoffs.
Ma’s speech is in line with his efforts to inspire optimism among employees, echoing a similar call to “believe in the future” in a letter to Alibaba staff earlier this year.
