Alibaba has announced plans to invest $1.4 billion in artificial intelligence (AI) and IoT for its Tmall Genie smart speaker. The latest investment will help in developing proprietary technology.
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Similar to Amazon Echo, the smart speaker has a smart assistant that helps in performing tasks like playing music, giving weather forecast, and more. Alibaba competes with Xiaomi Corp and Baidu Inc. in the smart speaker sector.
Source: https://in.reuters.com/article/alibaba-iot/alibaba-to-invest-1-4-billion-in-ai-system-for-smart-speakers-idINKBN22W0WA
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