<div id="readability-page-1"><p>A top figure at <strong>Alibaba</strong> <span>(BABA<span> 1.37%</span>)</span> basically reiterated the company's commitment to artificial intelligence (AI) technology over the weekend, and on Monday, the stock market rewarded the company for this. Shares of the Chinese e-commerce and tech giant were rising by nearly 2% in mid-session trading that day, easily topping the 0.2% slump of the <strong>S&amp;P 500</strong> <span>(^GSPC<span> -0.16%</span>)</span> during that time.</p> <h2>Not so-cloudy vision</h2> <p>Wang Jian, the founder of Alibaba's powerful cloud computing unit, gave an extended interview to Bloomberg that was posted on Sunday. In it, he spoke extensively about what he considers to be the future of AI. </p> <div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjY5NjUvaGFwcHktcGVyc29uLXVzaW5nLWhlYWRwaG9uZXMtYW5kLWEtcGhvbmUtd2hpbGUtbHlpbmctb24tYS1jb3VjaC5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="700" height="466" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjY5NjUvaGFwcHktcGVyc29uLXVzaW5nLWhlYWRwaG9uZXMtYW5kLWEtcGhvbmUtd2hpbGUtbHlpbmctb24tYS1jb3VjaC5qcGcmdz03MDA"/></p><p>Image source: Getty Images.</p> </div> <p>In Wang's opinion, many people currently have unrealistic expectations of what the technology can do. Much of this, he believes, is due to the emergence and early prominence of OpenAI's ChatGPT, which has focused attention on next-generation chatbot technology. He feels that AI has vastly more potential than that, and that the present level of development will soon be eclipsed.</p> <p>&#34;Probably 90% of the AI people are talking about, I would say, will go away in five or 10 years because it's not really the essence of this technology,&#34; Wang said to the financial news service.</p> <p>He opined that developers working on AI applications and processes have to look behind the present hype and chatter in order to determine how the technology could be harnessed for true advancement.</p>  <h2>Soaring AI ambitions</h2> <p>While Wang didn't provide granular details of how Alibaba might approach AI going forward, his pronouncements were sensible and realistic, and they obviously struck a chord with investors. Alibaba has the resources, know-how, and financial muscle to be a top AI developer. As such, investors should keep an eye on what comes from its development in the technology.</p>                                                                            </div>

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<p>Alibaba's stock rose nearly 2% as the company's commitment to artificial intelligence (AI) was reiterated by Wang Jian, founder of its cloud computing unit. In a Bloomberg interview, Wang expressed that current expectations of AI are unrealistic and emphasized the need for developers to focus on the technology's true potential. His insights resonated with investors, highlighting Alibaba's capability to be a leading AI developer in the future.</p>

- Alibaba's commitment to artificial intelligence (AI) was reaffirmed by a top executive, leading to a nearly 2% rise in its stock.  
- Wang Jian, founder of Alibaba's cloud unit, expressed that current expectations of AI are unrealistic and emphasized the need for developers to focus on the technology's true potential.  
- He believes that much of the current AI hype will fade in the next five to ten years, but Alibaba's resources position it well for future advancements in AI.  

Why Alibaba Was Outpacing the Broader Stock Market Today