Alibaba, and the rise of China in Tech & AI
“China. Now there is a sleeping giant.
Let him sleep. For when he wakes, he will move the world.”
With the dawn of the new millennium, it became apparent that the giant had awoken. Today, China is converging on the heart of American capitalism, taking on the tech giants.
At the front line of this advance is Alibaba. It was founded in 1999 by Jack Ma, a ‘non-techie’ English teacher, with two failed businesses behind him. Today, Alibaba sells three times the dollar value of goods annually as Amazon. Its IPO in 2014 was the largest IPO in history. In contrast with Amazon’s operating margins of 2.3%, Alibaba’s margins are 31%.
Unlike Amazon, Alibaba has no warehouses. Its asset and focus is software. It is now at the forefront of competition between the US and China for supremacy in the use of AI, key to fast paced technological advances witnessed today.
Alibaba is now ready for international expansion, and on the front line is David Lloyd . An Oxford graduate, in this evening’s talk he will discuss Alibaba’s approach and culture, the challenges it faces and the pivotal role of artificial intelligence.
The discussion will be followed by a drinks reception.
Price promotion continues.