For many years, capturing Alibaba’s multifaceted impact has been challenging. However, in 2024, the company’s transformative initiatives and resilience took center stage, solidifying its place as one of the powerhouses in sustainability, AI innovation, and e-commerce expansion.
With a laser-sharp focus on its core strategic pillars—“E-Commerce + AI”—Alibaba didn’t reshape the landscape of commerce and technology; it flipped the script entirely, securing its spot as one of the most talked-about companies of the year.
If 2023 marked a year of recalibration, 2024 was Alibaba’s resurgence. The company’s knack for adapting to economic challenges and ever-shifting consumer behaviors showcased a relentless drive to innovate and push boundaries.
#1: Breaking Barriers and Expanding Horizons
In late 2024, Alibaba formed a shiny new e-commerce business group, bundling together platforms like Taobao, Tmall, AliExpress, Alibaba.com, Lazada, Trendyol, 1688, and Idle Fish. This bold restructuring was designed to turbocharge global supply chains, empower SMEs, and give consumers a much more slicker experience.
The past year saw Alibaba’s international expansion hit full throttle, racking up record-breaking growth in emerging markets. Thanks to hefty Investments in logistics and strategic partnerships, the company was perfectly poised to meet surging global demand while supporting small businesses. And those Q2 results revealed over 1 billion annual active consumers globally, reflecting its expanding user base and market impact.
Alibaba.com reported rising optimism among SMEs worldwide as cross-border trade orders surged. The platform’s cutting-edge digital tools and analytics positioned it as a linchpin in global trade. Meanwhile, AliExpress upped its game with new seller support programs like the “POP + Full Hosting” model, making accommodating flexible operations easier and meeting diverse market needs. Oh, and let’s not forget—AliExpress scored big as the first exclusive e-commerce partner of UEFA Euro 2024, connecting with millions of football fans through tailored campaigns and exclusive merchandise.
Furthermore, Alibaba deepened its integration with mainland investors by debuting on HKEX Stock Connect, allowing investors in Shenzhen and Shanghai to trade its shares directly. This strategic move further aligned Alibaba’s global and domestic growth strategies, enhancing its investor base and market presence.
#2: Shaping the Future of Consumer Behavior
The 2024 11.11 shopping festival wasn’t just a sale, but redefined retail by merging commerce with entertainment. Since the event began, over 373 brands smashed 100 million yuan sales mark. The 88VIP member base has boosted cross-category spending, driving notable growth across beauty, apparel, and electronics, etc.
Interactive features like live streaming made shopping a full-on experience, while trends like eco-friendly products and personalized offerings showcased a shift in consumer priorities. The festival highlighted emerging e-commerce technologies, such as AI-powered recommendations and AR shopping tools, raised the bar for the entire industry.
Additionally, Millennials and Gen Z are embracing lifestyle-centric products and cultural artifacts with open arms, which reflects a shift toward emotionally resonant consumer goods. Toys and IP products are no longer solely the domain of children; they have become emotional and cultural artifacts. In times of rising costs and tight budgets, these feel-good purchases bring comfort and joy.
#3: Leading the AI Revolution and Cloud Services
2024 was the year Alibaba fully embraced its inner tech wizard. With cutting-edge AI models, the company revolutionized business operations, from personalized shopping to predictive logistics, with its Tongyi model family supporting over 300,000 enterprises.
Recently, Alibaba Cloud introduced its open-source AI reasoning model, QwQ, with jaw-dropping analytical capabilities, and ACE, a next-level image tool for creative tasks.
At the Apsara Conference 2024, Eddie Wu, Chairman and CEO of Alibaba Cloud Intelligence, gave a rousing call-to-action on AI’s potential to boost productivity and bridge the gap between digital and physical worlds. With Innovations like Qwen large models—offering multimodal capabilities—Alibaba made AI more accessible and affordable across industries. Meanwhile, advancements in robotics and autonomous driving hinted at the dawn of a new industrial era.
Joe Tsai, Chairman of Alibaba Group, went all-in on AI, calling it a critical growth driver. The Qwen2.5 model’s top ranking on Hugging Face exemplified Alibaba’s leadership in open-source AI ecosystems. And with the ModelScope community hosting over 10,000 models, developers everywhere had plenty to cheer about.
Speaking of breakthroughs, Alibaba Cloud pulled off a record-breaking 500-petabyte data migration for Xiaohongshu, “China’s Instagram”, a project that’s basically the digital equivalent of moving mountains. With a market share of 36% and partnership with heavyweights like Salesforce and IBM, Alibaba Cloud is owning the AI-driven data game.
#4: Relentless Commitment to Sustainability
Alibaba’s 2024 ESG report was a mic-drop moment. The company slashed emissions by 15%, poured resources into afforestation, and transitioned to clean energy—with 56% of Alibaba Cloud’s self-built data centers now running on clean electricity. And its rural e-commerce initiatives and upskilling programs for underserved communities reflected a holistic approach to sustainable development.
At COP29, Alibaba demonstrated leadership by unveiling renewable energy initiatives and AI tools to help merchants reduce carbon emissions. Cainiao’s green logistics—featuring biodegradable packaging and electric delivery fleets—set industry benchmarks.
Adding to its accomplishments, Alibaba inaugurated its green-designed international headquarters. The facility integrates energy-efficient systems, smart lighting, and rainwater recycling, exemplifying its commitment to sustainability and innovation. Sustainability never looked so good.
#5: Transforming Olympic Spectator Experiences
Alibaba brought its A-game to the Paris 2024 Olympics, revolutionizing how fans experienced the event. For the first time, cloud computing, enabled by Alibaba Cloud, surpassed satellite technology as the go-to for broadcasting. This milestone expanded global access to live coverage while improving efficiency.
AI-driven solutions made watching the Olympics more interactive than ever, offering real-time highlights, athlete analytics, and immersive AR replays. Behind the scenes, Alibaba’s digital infrastructure streamlined everything from ticketing to logistics, setting new bar for international events.
#6: Global Recognition for Social Impact
Alibaba’s efforts to protect intellectual property rights earned a big thumbs-up from the U.S. government in 2024. The company’s tech-savvy approach to combating counterfeiting set a benchmark for trust in the digital space.
Meanwhile, its AI-powered cancer detection tool also earned a spot on Fortune’s 2024 Change the World list, transforming healthcare with enhanced diagnostic accuracy and accessibility for underserved populations. This success underscores Alibaba’s dedication to using technology for good.
DAMO Academy unveiled an AI-powered weather forecasting model that improves accuracy and supports disaster preparedness, agriculture, and energy management—benefiting communities worldwide. Proof that Alibaba’s tech is as good for society as it is for business.
Looking Ahead：“The future is already here”
Over the years, DAMO Academy has consistently released its “Top 10 Technology Trends of the Year.” Today, we can clearly see the power of these predictions.
For example, in the report “2023’s Top 10 Tech Trends by Alibaba’s DAMO Academy” released on January 11, 2023, two of the trends highlighted have now become widely recognized. The first is Generative AI: Generative AI has entered an era of explosive applications, greatly advancing the production and creation of digital content. The second is Multimodal Pretrained Models: Multimodal pre-trained models, which unify knowledge representation across text, images, and audio, are becoming foundational infrastructure for artificial intelligence.
Another example is from the “Top 10 Tech Trends of 2022,” which included “AI for Science” and the “Co-evolution of Large and Small Models.”
As the renowned science fiction writer William Gibson once said, “The future is already here—it’s just not evenly distributed.” This insight resonates deeply with the way these technology trends have unfolded, shaping the present in once unimaginable ways.
Thank you, as always, for reading.
