Chinese tech giant Tencent Holdings aims to replicate the success of WeChat Pay by splashing cash for its artificial intelligence app Yuanbao, but analysts are sceptical about whether subsidies can move the needle in the increasingly crowded market.
Yuanbao’s 1 billion yuan (US$144 million) promotional campaign, which gives out cash through digital red packets to drive adoption, kicked off with a high-profile launch on Sunday, as many users woke up to find their WeChat groups flooded with…
Will Tencent’s red packet cash giveaway work again in crowded AI market?
