Latest news with #EricWan
Al Etihad
26-05-2025
- Business
- Al Etihad
Alibaba Cloud MENA chief bullish on expansion in UAE and region
27 May 2025 00:38 MAITHEM AL ANBARI (ABU DHABI)Alibaba Cloud recently made a significant impact at the Dubai FinTech Summit 2025 by announcing partnerships with LuLu Financial Holdings and Ant Digital Technologies. These collaborations aim to enhance financial innovation in the Middle East and North Africa (MENA) region through advanced cloud solutions and generative AI technologies. Aletihad met with Eric Wan, Vice President of Alibaba Cloud International and General Manager for the Middle East, Turkey, and Africa, to discuss the company's plans for expansion in the region. Here are excerpts from the interview: Alibaba Cloud is recognised as one of the largest online and mobile commerce enterprises globally. How would you describe Alibaba Cloud's participation in the Fintech Summit in the UAE?Alibaba Cloud has benefited from robust participation at the Dubai FinTech Summit 2025. We announced strategic partnerships with LuLu Financial Holdings and Ant Digital Technologies during the summit. We also hosted a panel discussion at the summit focused on the future of financial services in an AI-powered world. The panel featured industry experts, including executives from Lulu Financial Holdings, Wio Bank and Zand Bank. How would you characterise Alibaba Cloud's position within the fintech market, and what are the anticipated developments for the future?Alibaba Cloud holds a significant strategic position in the fintech market, owing to its robust cloud infrastructure and advanced technologies that can empower financial institutions with high performance and scalability. Once companies delegate infrastructure management to the cloud, they can focus their efforts on their core competencies. We are recognised as a leading cloud provider globally and in the region and have been expanding our footprint in the fintech sector through various strategic partnerships and innovative solutions. Here in the MENA region, we offer a wide range of cloud-based services. These solutions provide the necessary agility, scalability, and security required by financial institutions to innovate and grow. Integrating cutting-edge technologies like AI and data analytics into our cloud offerings allows fintech companies to enhance customer experiences, improve operational efficiencies, and ensure regulatory compliance. Given our global presence – in 87 zones across 29 regions – we support fintech companies in scaling up their operations. In the UAE, besides the recent partnerships with Lulu Financial Holdings and Ant Digital Technologies, we also announced our collaboration with Zand Bank, the first fully licensed all-digital bank in the UAE. This partnership focuses on leveraging generative AI, blockchain, and payment technologies to boost the bank's digital capabilities. What insights can you offer regarding Alibaba Cloud's expansion in the UAE and the agreements it has established with local counterparts?The UAE is a key market due to its thriving economy, tech-savvy population, and strategic location as a global trade hub. Alibaba Cloud is fully committed to long-term investment and expansion in the region, and we have our sights set on more strategic partnerships and investments in digital infrastructure. We believe our strengths in technologies such as AI and cloud computing, and industry solutions in e-commerce, fintech, media, gaming, etc., will likely play a crucial role in supporting the UAE's vision for a diversified and innovative economy. As a first mover in public cloud computing, Alibaba Cloud established a presence here by opening a data centre in Dubai Internet City back in November 2016. With a goal to provide local businesses with robust, secure, and high-performing capabilities, this data centre underwent an upgrade to include state-of-the-art cloud infrastructure, enhanced analytics, databases, industry solutions, and AI services. We have been serving hundreds of customers from different sectors, especially retail, finance, media, gaming, and internet, in the UAE market. In March 2024, we also launched the MEA region's Alibaba Cloud Academy Training Centre. The centre empowers our ecosystem partners and customers by delivering physical and virtual training workshops and certification courses to equip them with the skills needed to thrive in a digital economy. We partnered with Mawdoo3, the GCC's largest online content publisher, to provide the platform with a cost-effective and high-performance cloud infrastructure, including services such as Elastic Computing Service and Relational Database Service (RDS). Another significant project involved the implementation of Alibaba Cloud's Web Application Firewall (WAF) for WEMART, a prominent supermarket chain in the Middle East, taking its business from offline to online during the COVID-19 pandemic. As Alibaba Cloud is being chosen by more and more local businesses as their trusted cloud service provider, we are positive that we will continue to grow. What are the forthcoming initiatives for Alibaba as a group, including Alibaba's cloud business, international expansion, or trends in financial performance?Looking ahead, Alibaba Cloud views the Middle East as a region ripe with opportunities, driven by its rapid digital transformation across various sectors. I want to emphasise Alibaba Cloud's long-term commitment to investing in the market and to contributing to the success of our local customers and partners. We will continue to introduce leading products and proven solutions in the AI and cloud computing sector to serve our local customers. We will expand our ecosystem with more local partners on board to address sector-specific pain points. We also plan to collaborate with more universities to enhance digital talent training.
Mid East Info
12-05-2025
- Business
- Mid East Info
Alibaba Cloud Expands Fintech Footprint with LuLu Financial Holdings and Ant Digital Technologies AI Partnerships
New collaborations pledge to accelerate financial innovation and resilience through advanced cloud solutions and Gen-AI technologies Dubai, The United Arab Emirates, May , 2025 – Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, today announced its strategic partnerships with LuLu Financial Holdings('LuluFin'), a leading UAE-based financial services company and Ant Digital Technologies during the Dubai Fintech Summit 2025. These collaborations underscore Alibaba Cloud's ongoing commitments to supporting the region's digital transformation by equipping businesses with effective tools and robust infrastructure to thrive in an AI-powered world. These alliances come amid a wave of AI-led disruption and digital reinvention in the UAE and the wider GCC, where financial institutions are being redefined by national innovation strategies, ecosystem investments, and future-focused talent development. This technological shift holds immense economic potential, with McKinsey estimating a $1 trillion annual value opportunity in global banking, and PwC projecting a $320 billion contribution to the Middle East's economy by 2030. Eric Wan, Vice President of Alibaba Cloud International, General Manager of the Middle East, Turkey, and Africa, Alibaba Cloud Intelligence, said: 'We've always believed that technology has the power to drive real-world change, and our collaboration with leading financial institutions like LuLu Financial Holdings and Ant Digital Technologies reinforces this belief. It allows us to support them not just adapt but thrive in an increasingly digital world. With our dynamic cloud solutions and AI capabilities, we're supporting their journey to deliver smarter, more secure financial services – unlocking countless opportunities and reimagining the future of the financial sector.' Alibaba Cloud's robust cloud infrastructure and Generative AI capabilities are key to LuLuFin' transformation into an AI-native organization. With Alibaba Cloud's advanced solutions and technologies, LuLuFin has adopted a multi-cloud strategy that strengthens business resilience, enhances disaster recovery capabilities, and guides the development of innovative, customer-centric financial services. Alibaba Cloud's extensive portfolio of services, including its Elastic Compute Service (ECS), Disaster Recovery as a Service (DRaaS), PolarDB, and the EMAS mobile testing platform, provides LuLuFin with unprecedented agility, scalability, and security. Additionally, by leveraging Alibaba's proprietary large language model Qwen, LuLuFin is developing an internal AI agent called Treasury AI, as part of the joint Agentic AI development program. This intelligent platform is engineered to optimize fund allocation and movement. Treasury AI helps in transaction costs, currency exposure, and regulatory compliance. These innovations, powered by Qwen, are poised to significantly enhance LuluFin's service capabilities, revamp customer interactions, and streamline decision-making through predictive analytics and natural language processing. Joseph Cleetus, VP of Business Transformation, LuLu Financial Holdings said: 'AI is no longer on the horizon. It's already transforming the way we live, work, and transact. This collaboration marks a pivotal step forward in our journey to redefine cross-border payments, not just as a service, but as an intelligent, anticipatory experience. Together with Alibaba Cloud, we are building a future where technology doesn't just support finance — it elevates it.' During the Summit, Alibaba Cloud also announced its plan to deepen collaboration with Ant Digital Technologies to expand the suite of joint solutions into its Dubai region later this year, including ZOLOZ for digital identity verification, mPaaS for SuperApp development and operations, and cutting-edge AI capabilities tailored for the financial services industry (FSI). Leveraging the advanced technologies of Ant Digital Technologies and robust cloud and AI infrastructure of Alibaba Cloud, the partnership aims to deliver secure, scalable, and intelligent digital transformation services for local FSI customers. This initiative underscores both companies' commitment to empowering financial institutions in the region with innovative cloud and AI-native tools and trusted digital infrastructure. By partnering with forward-thinking organizations like LuLu Financial Holdings and Ant Digital Technologies, Alibaba Cloud is helping businesses harness the full potential of technology to deliver meaningful change and create value for their customers and communities. Alibaba Cloud has been a leading provider of cloud services to local private companies and public institutions in the UAE and the wider Middle East region since 2016. It has a robust local ecosystem in the MEA region with partners covering banking, financial services and insurance, media, public sectors, and customers locally across different sectors. Photo caption: Eric Wan Vice President of Alibaba Cloud International, General Manager of the Middle East, Turkey, and Africa, Alibaba Cloud Intelligence and Joseph Cleetus VP of Business Transformation, LuLu Financial Holdings witnessing the strategic partnership between Alibaba Cloud and LuLu Financial Holdings with the launch of Treasury AI platform at Dubai Fintech Summit. About Alibaba Cloud: Established in 2009, Alibaba Cloud ( is the digital technology and intelligence backbone of Alibaba Group. It offers a complete suite of cloud services to customers worldwide, including elastic computing, database, storage, network virtualization services, large-scale computing, security, big data analytics, machine learning and artificial intelligence (AI) services. Alibaba has been named the leading IaaS provider in Asia Pacific by revenue in U.S. dollars since 2018, according to Gartner. It has also maintained its position as one of the world's leading public cloud IaaS service providers since 2018, according to IDC. About LuLu Financial Holdings: LuLu Financial Holdings is a leading global financial services provider, offering a wide range of services including cross-border payments, currency exchange, and financial technology solutions. With over 370 customer engagement centers in over 10 countries across the Middle East, Indian subcontinent and APAC regions, and a commitment to innovation and customer satisfaction, LuLu Financial Holdings continues to set benchmarks in the financial services industry. About Ant Digital Technologies: Ant Digital Technologies is the technology commercialization business division of the Ant Group, which started independent operation in April 2024. Ant Digital Technologies originated from AntChain and has the leading technologies and patents in the field of blockchain globally. It has continuously developed several commercialized product brands such as ZOLOZ, mPaaS, and ZAN, with representative technological capabilities and businesses that are always committed to helping enterprises better embrace the digital age.
Al Etihad
12-05-2025
- Business
- Al Etihad
Alibaba Cloud expands fintech footprint with LuLu Financial Holdings and Ant Digital Technologies AI Partnerships
12 May 2025 16:38 DUBAI (ALETIHAD)Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, on Monday announced its strategic partnerships with LuLu Financial Holdings('LuluFin'), a leading UAE-based financial services company and Ant Digital Technologies during the Dubai Fintech Summit collaborations underscore Alibaba Cloud's ongoing commitment to supporting the region's digital transformation by equipping businesses with effective tools and robust infrastructure to thrive in an AI-powered alliances come amid a wave of AI-led disruption and digital reinvention in the UAE and the wider GCC, where financial institutions are being redefined by national innovation strategies, ecosystem investments, and future-focused talent development. This technological shift holds immense economic potential, with McKinsey estimating a $1 trillion annual value opportunity in global banking, and PwC projecting a $320 billion contribution to the Middle East's economy by President of Alibaba Cloud International, General Manager of the Middle East, Turkey, and Africa, Alibaba Cloud Intelligence, Eric Wan, said, 'We've always believed that technology has the power to drive real-world change, and our collaboration with leading financial institutions like LuLu Financial Holdings and Ant Digital Technologies reinforces this belief. It allows us to support them not just adapt but thrive in an increasingly digital world. With our dynamic cloud solutions and AI capabilities, we're supporting their journey to deliver smarter, more secure financial services - unlocking countless opportunities and reimagining the future of the financial sector.'Alibaba Cloud's robust cloud infrastructure and Generative AI capabilities are key to LuLuFin's transformation into an AI-native organisation. With Alibaba Cloud's advanced solutions and technologies, LuLuFin has adopted a multi-cloud strategy that strengthens business resilience, enhances disaster recovery capabilities, and guides the development of innovative, customer-centric financial services. Alibaba Cloud's extensive portfolio of services, including its Elastic Compute Service (ECS), Disaster Recovery as a Service (DRaaS), PolarDB, and the EMAS mobile testing platform, provides LuLuFin with unprecedented agility, scalability, and security. Additionally, by leveraging Alibaba's proprietary large language model Qwen, LuLuFin is developing an internal AI agent called Treasury AI, as part of the joint Agentic AI development intelligent platform is engineered to optimise fund allocation and movement. Treasury AI helps in transaction costs, currency exposure, and regulatory compliance. These innovations, powered by Qwen, are poised to significantly enhance LuluFin's service capabilities, revamp customer interactions, and streamline decision-making through predictive analytics and natural language processing. VP of Business Transformation, LuLu Financial Holdings, Joseph Cleetus, said, 'AI is no longer on the horizon. It's already transforming the way we live, work, and transact. This collaboration marks a pivotal step forward in our journey to redefine cross-border payments, not just as a service, but as an intelligent, anticipatory experience. Together with Alibaba Cloud, we are building a future where technology doesn't just support finance — it elevates it.'During the Summit, Alibaba Cloud also announced its plan to deepen collaboration with Ant Digital Technologies to expand the suite of joint solutions into its Dubai region later this year, including ZOLOZ for digital identity verification, mPaaS for SuperApp development and operations, and cutting-edge AI capabilities tailored for the financial services industry (FSI). Leveraging the advanced technologies of Ant Digital Technologies and the robust cloud and AI infrastructure of Alibaba Cloud, the partnership aims to deliver secure, scalable, and intelligent digital transformation services for local FSI initiative underscores both companies' commitment to empowering financial institutions in the region with innovative cloud and AI-native tools and trusted digital infrastructure. By partnering with forward-thinking organisations like LuLu Financial Holdings and Ant Digital Technologies, Alibaba Cloud is helping businesses harness the full potential of technology to deliver meaningful change and create value for their customers and communities.
Broadcast Pro
04-03-2025
- Business
- Broadcast Pro
Rotana Channels partners with Alibaba Cloud to advance Arabic automatic speech recognition
Rotana Channels has signed a Memorandum of Understanding (MoU) with Alibaba Cloud, the digital technology division of Alibaba Group, to enhance Automatic Speech Recognition (ASR) technology for Arabic languages. The collaboration will focus on refining ASR capabilities for Egyptian dialect and Khaliji Arabic, underscoring Rotana Channels' commitment to innovation in Arabic-language media and digital transformation in the region. Under the agreement, Alibaba Cloud will co-develop an advanced Arabic ASR model by integrating its cutting-edge cloud-based AI technology with Rotana Channels' expertise in Arabic-language content. This initiative aims to improve Arabic speech recognition and processing, catering to the linguistic diversity and cultural richness of the Arabic-speaking world. Additionally, the partnership includes a distribution agreement for the Middle East and North Africa (MENA), ensuring tailored ASR solutions for the region. Alibaba Cloud will also support Rotana Channels in migrating its video archives to a secure and scalable cloud infrastructure, providing an efficient end-to-end solution. Furthermore, Rotana Channels will gain access to Alibaba Cloud's AI-powered film restoration service, designed to revitalise classic Arabic films and preserve cultural heritage for future generations. Her Royal Highness Princess Lamia bint Majid Al Saud, CEO of Rotana Media Group, said: 'This partnership with Alibaba Cloud marks a significant step in advancing Arabic-language media through cutting-edge AI solutions. As a leader in content production, Rotana Channels remains committed to integrating the latest technologies that enhance audience experiences and support the digital transformation of the industry. By harnessing AI-powered Automatic Speech Recognition and cloud-based solutions, we are not only preserving the rich linguistic and cultural heritage of the Arabic language but also setting new standards for accessibility and engagement in media production.' Eric Wan, General Manager of the Middle East, Turkey and Africa, at Alibaba Cloud Intelligence, added: 'We are thrilled to announce our collaboration with Rotana Channels through this memorandum of understanding. This collaboration underscores our commitment to supporting the digital transformation of the media industry in the Middle East. By leveraging Alibaba Cloud's advanced technologies and innovative AI-powered cloud solutions, we aim to enhance Rotana Channels' content delivery and audience engagement, ultimately driving value for their operations and elevating audiences' experience.'
Arab News
04-03-2025
- Business
- Arab News
Rotana Channels, Alibaba Cloud to advance Arabic automatic speech recognition
Rotana Channels has signed a memorandum of understanding with Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, to enhance Automatic Speech Recognition technology for Arabic languages. This collaboration aims to focus on fine-tuning ASR capabilities for two key categories: Egyptian dialect and Khaliji Arabic, underscoring Rotana Channels's commitment to innovation in Arabic-language content and the region's technological advancement. As part of the agreement, Alibaba Cloud will partner with Rotana Channels to co-develop an advanced Arabic Automatic Speech Recognition model by leveraging Alibaba Cloud's trustworthy cloud-based AI technology and Rotana Channels's industry expertise in Arabic languages. This advanced solution will revolutionize how Arabic speech is recognized and processed, catering to the linguistic diversity and cultural richness of the Arabic-speaking world. In addition, Alibaba Cloud and Rotana Channels will establish a distribution partnership for the Middle East and North Africa region, ensuring the delivery of cutting-edge ASR solutions tailored to the region's specific needs. As a leading cloud service provider, Alibaba Cloud will also assist Rotana Channels in transitioning its video archive to the cloud, providing a comprehensive and scalable end-to-end solution tailored to Rotana Channels's needs leveraging Alibaba Cloud's secure, scalable and robust cloud infrastructure. Furthermore, Alibaba Cloud will provide Rotana Channels with access to its cutting-edge film restoration service, leveraging advanced deep learning models. This collaboration aims to revitalize classic Arabic films and preserve cultural heritage for future generations. Princess Lamia bint Majid, CEO of Rotana Media Group, commented: 'This partnership with Alibaba Cloud marks a significant step in advancing Arabic-language media through cutting-edge AI solutions. As a leader in content production, Rotana Channels remains committed to integrating the latest technologies that enhance audience experiences and support the digital transformation of the industry. By harnessing AI-powered Automatic Speech Recognition and cloud-based solutions, we are not only preserving the rich linguistic and cultural heritage of the Arabic language but also setting new standards for accessibility and engagement in media production.' Eric Wan, general manager of the Middle East, Turkiye and Africa, at Alibaba Cloud Intelligence, expressed his enthusiasm about the collaboration, stating: 'We are thrilled to announce our collaboration with Rotana Channels through this memorandum of understanding. 'This collaboration underscores our commitment to supporting the digital transformation of the media industry in the Middle East. 'By leveraging Alibaba Cloud's advanced technologies and innovative AI-powered cloud solutions, we aim to enhance Rotana Channels' content delivery and audience engagement, ultimately driving value for their operations and elevating audiences' experience.' This strategic collaboration highlights Rotana Channels's leading role in advancing digital innovation within the media and entertainment industry. By integrating advanced technologies with Rotana's vast expertise in Arabic content production, the partnership is poised to deliver high-quality, innovative solutions that meet the evolving demands of the region's audience.
