GenAI takes the spotlight in Alibaba’s latest quarterly report, with a 9% boost in revenue compared to the previous year.

Alibaba’s latest Q3 earnings report holds exciting news: a substantial 9% increase in revenue compared to last year, amounting to RMB 224.8 million (US$30.8 million). GenAI’s role in this success story can’t be overstated.

Let’s dive into the details: Alibaba’s advertising and e-commerce sectors, including Taobao and Tmall, are thriving. They’ve amped up user engagement through content upgrades, especially in the realm of short videos. Alongside this, they’ve revamped their approach to connecting with customers, resulting in a noticeable uptick in both active buyers and order volumes.

Now, the secret sauce behind this growth? Alibaba’s strategic use of GenAI tools, such as the Wanxiangtai Unbounded Edition advertising platform. These tools, powered by AI, enhance user experiences and seller efficiency. The bottom line? Improved returns on investment for merchants.

And let’s not forget about Xianyu – it’s making waves with a daily active user increase of over 20% year-over-year, translating into significant growth in advertising and value-added services. Additionally, Alibaba’s digital media and entertainment group has reported an impressive 11% revenue increase year-over-year. Under CEO Eddie Wu’s leadership, Alibaba continues to invest boldly in growth, leveraging AI technology for future success after some key changes in leadership.