Alibaba rolled out new artificial intelligence tools on Friday and is reportedly exploring blockchain-based payment rails as it seeks to streamline global commerce.
- The goal of AI Mode is to supply tailored recommendations in seconds, an upgrade over traditional keyword search.
- ‘Accio’ platform uses multimodal AI to interpret unstructured data.
- Alibaba.com is preparing to integrate tokenized versions of major currencies such as the euro and U.S. dollar.
Alibaba.com, the business-to-business marketplace operated by Alibaba Group Holding (BABA), is preparing a major overhaul of how international buyers and suppliers connect, trade and settle payments.
The company rolled out new artificial intelligence tools on Friday and is reportedly exploring blockchain-based payment rails as it seeks to streamline global commerce.
Expanding AI Capabilities
The company unveiled an AI subscription service designed to help businesses find suppliers more precisely and negotiate deals with greater efficiency.
Scheduled for rollout in December, the ‘AI Mode’ feature reimagines supplier discovery and evaluation by allowing businesses to input natural-language queries which the system then uses to analyse technical specs, logistics, certifications, production capabilities and pricing.
The goal is to provide tailored recommendations in seconds, an upgrade over traditional keyword search methods. At the core of this initiative is a technology platform named ‘Accio,’ which uses multimodal AI to interpret unstructured data.
The platform intends to surface specialised, niche or region-specific suppliers.
What Is Retail Mood On Stocktwits
Alibaba stock traded over 1% lower in Friday’s premarket. On Stocktwits, retail sentiment around the stock shifted to ‘neutral’ from ‘bullish’ territory. Message volume changed to ‘high’ from ‘normal’ levels in 24 hours.
Tokenized Money Transfers
According to a CNBC report, Kuo Zhang, president of Alibaba.com, said that the platform intends to incorporate bank-developed digital payment technology to boost cross-border transactions.
To address slow, expensive global payments, Alibaba.com plans to introduce a new feature in December known as ‘agentic pay.’ The tool uses AI to automatically generate contracts between buyers and suppliers.
Zhang said the platform is also preparing to integrate tokenized versions of major currencies such as the euro and U.S. dollar and expects to work with JPMorgan, which has developed its own blockchain-based payment token aimed at cross-border B2B settlements, according to the report.
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