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Alibaba to Invest $15 Billion in Research

12 October, 2017, 01:06 | Author: Kristen Ingram
  • A Chinese tech behemoth just announced a new $15 billion initiative

HANGZHOU-Chinese e-commerce giant Alibaba Group Holding Ltd. says it will almost triple spending on research and development, to more than $15 billion over the next three years, as it seeks to keep pace with Western rivals such as Alphabet Inc. and Amazon.com Inc. Alibaba's officials have declared that the advisory board members of the research program will comprise educators and researchers from some of the top universities.

The company is calling its global research program the Alibaba DAMO Academy - short for discovery, adventure, momentum and outlook. The labs at these research institutes would apparently be utilized to work on projects spanning a multitude of disciplines - the Internet of Things, data intelligence, quantum computing, financial technologies, human-machine interaction, inclusive of natural language processing and machine learning.

Alibaba now has an overseas data science research lab in California, however, it has continously opened several data centers in Europe, America, Middle East, Australia, India, Indonesia and Japan a year ago as a way to expand its cloud business.

Alibaba said it plans to recruit 100 scientists and researchers for the first phase of the program who will delve into both foundational and disruptive technology research.

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.

At the Computing Conference 2017 in Hangzhou today, Alibaba's executive chairman Jack Ma said he envisions the DAMO Academy as being created to "solve the problems of the future", and sees the academy as going "beyond IBM and Intel and Microsoft, because it's born in the 21st century and will take the late-mover advantage". With our global expansion, we have grown and refined our technology manifold.

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.

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