<div id="readability-page-1"><div><div>Wang Jian, the founder of Alibaba Group Holding Ltd.’s BABA cloud and AI unit, expressed that exorbitant salaries for AI talent are not essential for true innovation.Check out the current price of BABA stock here. What Happened: In an interview with Bloomberg’s Annabelle Droulers, Jian, who established Alibaba Cloud in 2009, stated that the key to innovation lies in finding the right people rather than paying top dollar for talent.He contrasted the approach of American tech giants, which he believes are overly focused on existing business success and average technology. Jian emphasized the importance of identifying the right talent for new business and true innovation.Jian stated, “If it’s true innovation, that basically means talent.”This perspective comes amid a trend of major tech companies offering substantial salaries to recruit top AI talent. Meta Platforms Inc. META recently made headlines for its aggressive hiring strategy, including a $14.3 billion deal to acquire a 49% stake in Scale AI and $100 million signing bonuses for OpenAI employees.Why It Matters: Jian’s comments reflect a growing debate in the tech industry about the most effective approach to securing AI talent. Meta’s recent hiring spree, which has been compared to “mafioso” tactics, has sparked a contentious talent war in Silicon Valley.Meanwhile, China’s AI industry is witnessing the launch of open-source AI models and consolidation among major tech players. This approach has led to China closing the gap with the US in the AI race, as noted by Nvidia‘s NVDA CEO Jensen Huang.<ul> <li>Elon Musk Confirms Tesla As the Mystery Big-Tech That Signed $16.5 Billion Chip Contract With Samsung: ‘I Will Walk The Line Personally’ To Boost Progress (UPDATED)</li> </ul>Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.Photo: Shutterstock</div></div></div>

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Wang Jian, founder of Alibaba Cloud, stated that true innovation does not require high salaries for AI talent, emphasizing the importance of finding the right people. He criticized American tech giants for focusing too much on existing successes and high salaries, contrasting this with China's approach to AI, which is closing the gap with the US. His comments come amid a talent war in Silicon Valley, highlighted by Meta's aggressive hiring strategies, including substantial signing bonuses and acquisitions.

- Wang Jian, founder of Alibaba's cloud and AI unit, argues that high salaries for AI talent are not crucial for innovation.  
- In a Bloomberg interview, he emphasized that finding the right people is more important than financial incentives, contrasting this with American tech giants' focus on existing successes.  
- Jian's comments highlight a debate in the tech industry regarding effective strategies for attracting AI talent, as major companies engage in aggressive hiring practices.  

Alibaba Cloud Founder Says True Innovation Doesn't Need Expensive Hires As Mark Zuckerberg's Meta Rolls Out Hundred Million Dollar Packages