Ma Huateng on AI: Tencent's Strategic Approach to Harnessing a Once-in-a-Century Opportunity

Home AI News Ma Huateng on AI: Tencent's Strategic Approach to Harnessing a Once-in-a-Century Opportunity

Updated on November 16 2024

At the 2023 shareholder meeting, Tencent's CEO, Pony Ma, spoke about the company's strategic direction and the bright future of artificial intelligence (AI). He described the emergence of AI as a once-in-a-century opportunity, akin to the invention of electricity. Ma urged internet companies to prioritize developing foundational technologies and practical applications over hastily presenting unfinished products to inflate stock prices.

Ma highlighted Tencent's significant progress in AI, including initiatives like ChatGPT, but emphasized that the company is not rushing to release these developments. Instead, Tencent is focused on refining products and enhancing user experience, stating, "We have never been that kind of company; we believe in delivering quality products and services."

In Q1 2023, Tencent reported strong earnings of 149.986 billion yuan, marking an 11% year-over-year increase, with a net profit of 32.538 billion yuan, up 27% from the prior year. Ma emphasized Tencent's dedication to AI, noting substantial investments in advancing AI capabilities and cloud infrastructure to maximize the potential of foundational models. He believes AI will serve as a catalyst for the company's growth.

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