During the annual meeting, Tencent co-founder and CEO Pony Ma said that the company’s gaming business faces major challenges from competitors, while the company is catching up with competitors in the development of artificial intelligence, writes Reuters.
The gaming business is one of the company’s main areas of focus and generates more than 30% of revenue. However, due to high competition, this area is under threat, as new games have not met expectations.
“Gaming is our flagship business… But we faced significant challenges last year,” said Ma. “We found ourselves in a state of confusion as our competitors continued to produce new products, leaving us feeling like we hadn’t achieved anything.”
According to Ma, while lagging behind its competitors in the gaming sector, Tencent has managed to catch up with other major companies in the development of artificial intelligence. He says that although the company is not a leader in AI, it is not too far behind its competitors.
Pony Ma also believes that the company needs to add its Hunyuan AI model to various business scenarios before turning AI into a separate product.
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