Tencent’s Pony Ma Says AI is a Once-in-a-century Opportunity

On May 18th, on the Tencent 2023 Shareholders’ Meeting, Tencent CEO Pony Ma responded to questions on ChatGPT and AI (Artificial Intelligence) by saying: “We initially thought that AI was a once-in-a-decade alternative for the web trade, however the extra we give it some thought, the extra we notice that this is a uncommon alternative that solely comes alongside each few hundred years, much like the economic revolution of inventing electrical energy.

Mr. Ma mentioned that web corporations have collected a lot within the area of AI, and Tencent is additionally working onerous on analysis and improvement. However, they aren’t keen to complete early and showcase their half-finished merchandise. “For the industrial revolution, it’s not so important to bring out the light bulb one month earlier when viewed over a long period of time. The key is to solidly build up the underlying algorithms, computing power, and data, as well as landing scenarios. Currently (we) are still doing some thinking. I feel that many companies are too hasty and seem to be boosting their stock prices. We have never been this kind of style.”

Ma shared that a good firm can’t do every thing. Through years of administration expertise, he has seen that specializing in the areas the place one excels is important to higher leverage their worth. One shouldn’t be grasping for earnings and unfold their helpful vitality in different areas the place others are extra skilled simply to get a share of the pie. Focus can maximize one’s benefits. “Discovering which businesses can generate benefits greater than 1+1 from past businesses, using past experiences and achieving the best industry standards is crucial. Thinking about this often will make oneself more motivated,” Ma mentioned frankly.

SEE ALSO: Tencent Cloud Cuts Prices of Core Products, with Highest Reduction Reaching 40%

On May seventeenth, Tencent Holdings Ltd. (00700.HK) launched its Q1 2023 monetary report, which confirmed that the corporate achieved working income of RMB 149.986 billion, a year-on-year enhance of 11% and a quarter-on-quarter enhance of three%; Non-IFRS internet revenue was RMB 32.538 billion, a year-on-year enhance of 27%

In the monetary report, “The company’s total revenue achieved solid growth, reflecting improvements in revenue structure and operational efficiency.” Ma mentioned that Tencent is vigorously investing in constructing AI capabilities and cloud infrastructure to embrace alternatives introduced by fundamental fashions. He believes that synthetic intelligence will turn into a multiplier for enterprise improvement.

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