ChainThink report: According to LatePost, the AI overhaul project within Alipay internally codenamed "Project Baobao" is led by Li Jun, President of Alipay Business Group, and classified as Ant Group’s highest-level confidential initiative. The new version is expected to launch imminently and will undergo rapid iteration with a frequency of twice per month post-launch.

To serve its existing base of 1 billion users and achieve zero migration cost, the new release adopts a "one-click switch" cage-exchange model. Upon opening, users default to the original Alipay interface, but can seamlessly switch to the entirely new conversational UI with one click and set it as their preferred experience.

Technically, the new version implements a dual-track approach: on one hand, driving merchants to refactor their services into AI-accessible MCP interfaces; on the other, leveraging screen-reading operations under user authorization to maintain compatibility with unrefactored mini-programs, thereby completing end-to-end service flows for long-tail tasks.

Alipay also plans to launch an AI Open Platform after launch and advance cross-terminal interoperability with smartphones, in-car systems, smart glasses, and other devices.

The project underwent a major strategic pivot: initially established in the second half of 2023, the team developed a standalone native AI application and launched ZhiXiaoBao in September 2024, but the results fell short of expectations. Concurrently, Alipay's internal intelligent agents maintained daily active users in the millions.

In March 2025, the team shifted direction, abandoning the standalone app model. Formal project initiation for in-app transformation was confirmed in December 2025, marking the gradual rollout of the "cage-exchange" strategy.