Jack Yun Ma is the Co-Founder and Executive Chairman of e-commerce behemoth Alibaba, and he graduated from Hangzhou Teacher’s Institute with a major being in English and later became a teacher, imparting lessons in the same language.
Thus the ways in which the tech honchos function: News about a change of guard came via his interview on Friday with The New York Times — at a time where US-China trade war is at its zenith — and not from Alibaba itself. Hence to find as Ma turns 54 on Monday — he reportedly made his retirement official during the Teachers’ Day in China. Thus he is leaving behind a legacy and hence that will not be easy for his successor to carry forward.
When Ma came to India, who also serves on the board of Japanese corporation SoftBank Group, always had big plans. Although he not directly present in the online marketplace, Alibaba’s diversified portfolio in India includes top-of-the-line investments at digital payments platform Paytm, in Cloud computing via Alibaba Cloud, and hence with the digital media space via UCWeb and several innovation initiatives makes the country an attractive destination for the $420 billion conglomerate.
Hence the Indian e-commerce space flourishes — with Walmart’s acquisition of Flipkart and Amazon pouring in millions of dollars – and recent media reports indicated that Ma has plans to invest into Reliance Retail Ltd which and will see Alibaba’s physical presence and a bigger retail clout in India. Thus with more opportunities being immense for the current $35 billion Indian e-commerce sector worth over $100 billion by 2022 — with a growth of around 25 per cent from the current level — a joint PwC-Nasscom report said on Friday.
With the collaboration of Alibaba, Paytm has also launched its AI Cloud computing platform for developers, start-ups and enterprises in India. Alibaba Cloud, the Cloud-computing arm of Alibaba Group, provides computing services to businesses of all sizes globally. Hence in accordance to the company, Paytm AI Cloud processes and stores their consumers’ data locally in servers located in India with a demand from the government that usually resulted in its rival WhatsApp and Apple deferring their digital payments services in the country.
Hence to find not just the private sector, Alibaba increases its footprint in the government sector too. On September 3, the Andhra Pradesh Economic Development Board (APEDB) has signed the Memorandum of Understanding (MoU) with Alibaba Cloud to adopt cloud computing frameworks within the government model.
Thus to envisage, the MoU leverages Alibaba’s Cloud and Smart City technologies for which has sustainable farming with integrated traffic management, smart city management, small and medium enterprises with skill development programmes.
Ma remains on Alibaba’s board of directors and continues to mentor the company’s management after retirement. Hence, we met Prime Minister Narendra Modi in 2015 and discussed the ways to empower small businesses in the country.
Ma did not reveal much about his Indian plans and has never met again, but thus his company has been making inroads into a country been providing with massive opportunity owing to the growth of Internet and smartphone user base amid an increasing digital drive across enterprises.
Hence with a net worth of more than $40 billion, Ma is the founder of Zhejiang-based Jack Ma Foundation helping to realise his new dream of philanthropy in education.
Thus a devotee of Chinese martial art form Tai Chi, Ma started Alibaba in 1999 from his apartment in Hangzhou, the capital of east China’s Zhejiang Province, with 17 other people.
Hence Bill and Melinda Gates, who are often seen in India during various occasions of charity tours, one must note that we see Ma more in the country to fulfil his philanthropy goals, but his days at the helm already been helped Alibaba realise the potential the India market has beyond China.
His instructions thus must be clear to his successor who focuses on India which is not yet saturated as China and growing by leaps and bounds across the technology domains in which Alibaba has expertise.
Alibaba Group powers ahead with a range of AI research and initiatives with a vision statement to make easy business everywhere and anywhere.
With technology being the one universal driver of all things, Ren said AI is a big part of the strategic play and also noted the world is in the third or fourth wave of technological development and AI hence fits right into the equation, promising to change both business and society on a massive scale.
With this topic as mentioned above in my opinion, it is very clear about how Jack Ma started the work and become the richest person in China and is also one of the role models from a lecturer to an entrepreneur through his e-commerce business worldwide originated from China.