Published: Thu, October 12, 2017
Global News | By Stacy Ballard

Alibaba will invest $15 billion into new global R&D program

Alibaba will invest $15 billion into new global R&D program

Following in the footsteps of technology giants, including IBM and Microsoft, China's Alibaba will create a research and development program, called DAMO Academy, through an investment of US$15 billion over the next three years.

"The labs will help solve issues that Alibaba is now facing across its business lines", Alibaba chief technology officer Jeff Zhang (張建鋒) said in a telephone interview. This is the beginning of its global research program, now known as Alibaba DAMO Academy - "DAMO" an acronym for Discovery, Adventure, Momentum and Outlook.

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Alibaba said it will be doubling its R&D spend over the coming three years to United States dollars 15 billion in order to develop next-generation technology and explore moonshot projects aimed at upending industries, Bloomberg reported. The initial pool of 100 researchers and scientists will be recruited from all over the world.

Research areas will cover data intelligence, the Internet of Things, fintech, quantum computing and human-machine interaction. The company has built an advisory board for the academy includes professors from a number of leading research institutions both in China and the U.S. In addition, the company plans to work with local partners to drive its research forward.

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Alibaba Group Holding Ltd.is putting a lot of cash behind its goal of serving 2 billion customers and creating 100 million job opportunities over the next two decades.

DAMO Academy has already merged with the University of California, Berkeley, which will witness the entities explore areas such as secured real-time computing through RISE lab. With our global expansion, we have grown and refined our technology manifold.

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Alibaba, as a company, has also been aiming to convince talented and ambitious researchers to join their program, which would enhance the technical expertise of the program. "We aim to discover breakthrough technologies that will enable greater efficiency, network security and ecosystem synergy for end-users and businesses everywhere", Jeff Zhang said in a statement.

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