June 23, 2024

The CEO and co-founder of Tencent Holdings, Pony Ma, recently expressed the challenges faced by the company’s video games business due to intense competition but highlighted progress in its AI development.

During Tencent’s annual meeting in Shenzhen, Ma acknowledged that the gaming sector, contributing over 30% to Tencent’s revenue, had encountered stiff competition. 

Tencent Holdings Deals with Competitor Challenges

The concerns revolved around Tencent’s ability to maintain its position as China’s top tech company amidst growing competition and emerging disruptive technologies. Ma emphasized that despite facing challenges in the gaming sector, Tencent has made strides in AI development, catching up with leading companies. 

He mentioned that while Tencent may not consider itself at the forefront, it is not significantly behind its peers. Regarding AI, Ma outlined Tencent’s focus on integrating its Hunyuan AI model into various business scenarios to enhance efficiency rather than rushing to transform AI into products.

As such, he suggested that massive AI-native applications might not materialize within the next one or two years.

Ma also addressed Tencent’s exploration of live-streaming e-commerce as a strategy to evolve WeChat, the company’s robust platform, which, despite being 12 years old, boasts a substantial user base and ecosystem.

As highlighted by Ma, the challenge is finding innovative approaches to rejuvenate WeChat’s established platform and compete with successful models like Douyin’s live-streaming e-commerce.

Tencent Holdings’ Commitment to Artificial Intelligence

Tencent Holdings’ business objectives center around improving the experience of its users through continuous dedication to artificial intelligence

Located in Shenzhen, the firm operates in a cutting-edge AI lab where in-depth research on speech recognition, machine learning, and computer vision is done continually.

It leverages the strength of AI to integrate this technology across different areas to improve how users communicate, even as it aids business growthThe importance of this technology is also seen in how Tencent addresses regular complications found in various organizations.

Notably, the idea to introduce the AI model aligns with the company’s proactive stance in adhering to new Chinese regulations concerning generative artificial intelligence, which came into effect on August 15 last year. This model serves as a testament to Tencent’s technological prowess, striving to democratize AI accessibility for people worldwide.

The company also noted the significance of using open-source models and enterprise data for targeted industrial use cases. This dual approach enhances the efficiency of AI solutions and plays a pivotal role in fortifying data protection measures.

The collaborative utilization of open-source models and industry-specific data is seen as a strategic move to unlock the full value of AI across various domains.

With thousands of researchers dispersed across its global offices, Tencent’s dedicated teams focus on pivotal research areas such as machine learning, natural language processing, computer vision, and speech recognition.

Meanwhile, the competitive landscape of Tencent’s AI endeavors in China is intensifying, solidifying the company’s position as a frontrunner in the ongoing AI race.


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