Alibaba co-founder Jack Ma voiced strong optimism about the future of Ant Group, highlighting significant opportunities in artificial intelligence for the fintech giant during a rare public appearance on Sunday.
The remarks were made at the 20th-anniversary celebration of Ant Group, which Ma also co-founded, marking his first such appearance since China halted the company’s planned initial public offering in 2020.
In his speech, Ma expressed enthusiasm about the potential of AI, noting that “the great changes brought by the AI era in the next 20 years will exceed everyone’s imagination,” according to Chinese media outlet 36kr. Reflecting on the evolution of technology, he added, “Our generation is very lucky. We seized the opportunities of the Internet era.”
Ma also expressed gratitude for the challenges Ant Group had faced, calling them vital to the company’s growth. “It is these encouragements and criticisms that help Ant grow and mature,” he said.
Ma’s remarks come after Ant Group faced a series of regulatory challenges. In October 2020, Ma publicly criticized Chinese regulators, a move that derailed Ant’s IPO and led to a wider crackdown on the tech sector. Following this, Ma largely withdrew from the public eye.
Ant Group, known for its mobile payment platform Alipay, was once valued at over $300 billion before its IPO was pulled.
The company has since undergone extensive restructuring to comply with regulatory changes. In 2023, Ma relinquished control of Ant, and the company was fined nearly $1 billion in 2022 for violations related to consumer protection and corporate governance.
In a leadership change announced Sunday, Ant Group revealed that Cyril Han, the company’s president, will succeed Eric Jing as CEO effective March 1.
