Key Takeaways:
– Alibaba launches AI-powered search engine, Accio for small businesses in Europe and the Americas
– Initial tests show a 40% increase in purchase intent using Accio compared to traditional search engines
– Accio uses data from 50 million businesses, 1 billion product listings, and industrial documents across 100+ markets
– The tool also uses Alibaba’s Tongyi Qianwen large language model for the generative AI
– Alibaba continues to primarily rely on domestic e-commerce platforms Taobao and Tmall for its main revenue
Artificial Intelligence on the E-Commerce Frontier
Chinese e-commerce titan, Alibaba has recently marked another industry-leading milestone with the introduction of an AI-powered search engine designed for small businesses. Unveiled at the Guangdong Canton Fair on October 16, 2024, the tool named Accio is targeted towards businesses in Europe and the Americas keen on diversifying their supply sources.
Accio: The AI-Powered Search Engine Making a Difference
Accio, named after the summoning spell in the popular Harry Potter series, bolsters Alibaba’s reputation for innovative tech solutions. According to Kuo Zhang, the President of Alibaba.com and Vice President of Alibaba International, initial trials of the tool demonstrated a remarkable 40% increase in businesses’ purchase intent compared to traditional search engines.
Multiple Language Support and User-friendly Interface
The initial web-based version of Accio supports several major languages such as English, German, French, Portuguese, and Spanish. Businesses can employ this user-friendly tool to find wholesale products with just a few image or text prompts. Furthermore, Accio provides businesses with detailed analysis on product popularity and projected profits.
Accio: A Comprehensive Database for Businesses
Accio uses an extensive database derived from 50 million businesses affiliated with Alibaba International’s platform, coupled with publicly-accessible industry data. The tool integrates over 1 billion product listings and various documents spanning industries in over 100 markets, all via Alibaba.com, the company’s business-to-business platform.
AI for Perfect Customer Service
The use of AI within the tool extends to customer service and content generation. During the annual weeks-long Singles Day shopping festival, over half of more than 500 merchants on Chinese e-commerce platforms like Alibaba and JD.com reported using an AI-enabled tool. A subsequent survey revealed a high positive impact on productivity as a result of the AI tools, with 56% of respondents contributing to the acclaim.
Alibaba’s Competitive Advantage
In the latter part of October, Alibaba’s international division acknowledged the superiority of their AI translation tool against notable rivals Google, DeepL, and ChatGPT. Though international growth has been significant for Alibaba, its primary revenue remains tied to domestic e-commerce platforms Taobao and Tmall.
The Future of Alibaba
Alibaba’s management in August 2023 informed investors of the potential that lies ahead for the Taobao app, anticipating its transformation into a one-stop smart portal powered by AI. As Alibaba forges ahead on its innovation drive, it is expected to reveal more in its upcoming quarterly results due this Friday.