Alibaba to invest $1.4 billion in AI system for smart speakers

SHANGHAI (Reuters) - Alibaba Group Holding Ltd will invest 10 billion yuan ($1.41 billion) into an AI (artificial intelligence) and IoT (Internet of Things) system centered around its Tmall Genie smart speaker, the company announced on Wednesday.The announcement comes as the e-commerce giant continues its push into new technologies and business sectors beyond online shopping.The money will be used to add more content to Tmall Genie, as well as develop proprietary technology, Alibaba said.It..