- Jack Ma, Alibaba Group's founder, said the company faces 300 million attempted cyber attacks each day.
- Alipay — the group's payments arm, which processes $50 billion of daily transactions — has yet to lose "one cent" to hackers, said Ma.
- The company's high rate of success must necessarily rely on vast amounts of customer data, he noted.
Ma said he was "proud" that despite the tirade of subterfuge, Alipay — the group's payments arm which reports close to 1 billion users and processes $50 billion worth of transactions per day — has yet to lose "one cent" to hackers.
"For Alibaba Group, we have over 300 million hacking attempts per day. Every day. But we deal (with) it. We don't have even one problem," Ma said at the Forbes Global CEO Conference in Singapore on Tuesday.
By way of contrast, embattled Chinese technology giant Huawei is subject to around 1 million daily cyberattacks, according to its security chief. Until now, other technology companies have been less forthcoming in revealing their cyber attack vulnerabilities.
Alibaba faced a sweeping cyber attack attempt in February, which threatened to compromise the accounts of 20 million users on its Taobao e-commerce site. The company said it detected the attack "in the first instance."
Ma cited the company's advanced tech capabilities, which he dubbed "AI: Alibaba Intelligence," for its continued success rate, noting that machines are superior to humans in using logic to thwart malicious online behavior.
"We teach the machine all the ways people (are) cheating," said Ma. "The machine remembers over millions of ways of cheating, so when we start the cheating, (the) machine already knows you are cheating. In this way we are protecting all the technology."
To achieve that degree of accuracy, however, Ma noted the company must collect vast swathes of customer data. He argued that doing so allowed Alibaba to develop safeguards to detect bad human actors.
"Give my data to a machine," said Ma. "I trust a machine more than (I) trust people."
"I give my data to people, I worry about that. People say 'ah, this is Jack Ma, I want to know about him.' Machine(s) don't care if you're Jack Ma or Jack Lee. Machine cares whether you do good things or bad things."
Ma retired from Alibaba last month, 20 years after the company's founding. At the conference in Singapore, he was honored with the Malcolm S Forbes Lifetime Achievement Award for his "outstanding" contributions to entrepreneurship.