Alibaba to Invest $15 Billion for Global Research Program



Chinese e-commerce giant Alibaba (NYSE: BABA) announced Wednesday it will invest more than $15 billion USA over the next three years into a global research and development program to increase collaboration and develop new technologies. In addition, the academy is now looking to recruit 100 talented researchers from around the world.

The Alibaba "Damo" academy would launch eight research bases in China, Israel, the United States, Russia and Singapore and was hiring 100 researchers to work on artificial intelligence (AI), quantum computing and fintech, the company said in a statement on Wednesday.

They will focus on both foundational and disruptive technology research including data intelligence, internet of things, financial technology, quantum computing and human-machine interaction.

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.

Zhang in an interview said, "Over the past 18 years, we have developed a robust technology infrastructure that supports the rapid growth of our business".

This project has a goal of serving two billion customers and creating 100 million jobs by 2036 and also to increase technological collaboration worldwide.

China's top e-commerce firm will launch research bases in Israel, the US, Russia and Singapore as it looks to compete with global leaders in e-commerce, logistics and cloud technology.

. "We are now looking for talented and driven researchers to join us in the quest for new disruptive technologies that would advance our every-day lives, benefit small businesses and narrow the technology gap to make our world a more inclusive place", Zhang added.

The academy will set up an advisory board of globally renowned educators and researchers who will provide guidance and advice on the research direction and key research areas of the labs.