Alibaba has launched Tongyi Qianwen 2.0, its latest large language model (LLM) to compete with U.S. tech giants like Amazon and Microsoft. This LLM, similar to models used by ChatGPT from OpenAI, is trained on vast datasets and is considered a significant upgrade from its predecessor. It excels in understanding complex instructions, copywriting, reasoning, memorization, and preventing AI hallucinations. Alibaba has also released industry-specific AI models for applications like legal counseling and finance. Additionally, the Hangzhou-headquartered company also announced the GenAI Service Platform, which lets companies build their own generative AI applications using their own data, addressing concerns about data privacy. Alibaba is striving to catch up with Amazon and Microsoft in the global cloud computing market, despite being the market leader in China.