Ant Group inks AI partnership with Shanghai

Ant Group and the Shanghai municipal government have struck a partnership that would see the two parties deepen their collaboration in fields such as blockchain and artificial intelligence (AI), reports the South China Morning Post. Under the partnership, Ant Group, the fintech affiliate of Alibaba Group Holding, will “actively participate in building [an] artificial intelligence industry ecosystem and blockchain innovation platform in Shanghai,” according to a statement published on Wednesday.

The partnership signing ceremony was attended by Shanghai Mayor Gong Zheng and Eric Jing Xiandong, chairman and chief executive at Ant.

The deal is the latest example of a Big Tech firm in China supporting the state’s technology priorities. Ant Group, which called off a mega initial public offering in Shanghai and Hong Kong in late 2020, has undergone a reorganisation and ownership change to satisfy regulatory demands.