China's Ant Group lifts R&D spending to nearly $3bn on AI, Alipay
SHANGHAI -- Chinese fintech company Ant Group said Thursday it spent 21.19 billion yuan ($2.92 billion) on research and development in 2023, including on artificial intelligence.
The figure grew 4% from the year before as Ant, an affiliate of e-commerce giant Alibaba Group Holding, advanced its "AI first" strategy and globalization efforts.