China Clears Ant to Roll Out AI Services

(Bloomberg) — China cleared Ant Group Co., the fintech affiliate of Alibaba Group Holding Ltd., to roll out products powered by its large-language artificial intelligence model Bailing to the public.

Bailing will apply to Ant’s various services and help with innovation, Xu Peng, vice president of Ant Group, said Monday in a statement.

Chinese tech businesses including Alibaba, Tencent Holdings Ltd. and Baidu Inc. have joined startups Baichuan and Zhipu to release ChatGPT-like products, joining a global race to capitalize on the potential of generative AI. Ant, the owner of Alipay, can leverage the popularity of the mobile payment service to gain more data and insight on user habits.