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AI News from ET - Alibaba pins hopes on AI as quarterly net profit drops

Vishwadeep Khatri
in AI News & Two Lenses

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Net profit plunged 66% to 15.6 billion yuan ($2.2 billion) primarily due to a "decrease in income from operations", the firm said. China's tech titans, including Alibaba, are racing to develop AI agents -- tools that execute real-life tasks such as sending emails or booking flights, touted as the technology's next frontier after text and image generators.

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