China's technology conglomerate, Alibaba Group Holding, will increase more than twice its research and development spending (up to Dollars 15 billion) over the next three years to develop the next generation of technology, boost its growing business and explore ambitious projects, which could change the industries.
According to Alibaba's Chief Technology Officer Jeff Zhang, "The Alibaba DAMO Academy will be at the forefront of developing next-generation technology that would spur the growth of Alibaba and our partners". The program has tentatively been titled 'Discovery, Adventure, Momentum, and Outlook (DAMO)'.More news: Microsoft Has Given Up On Trying to Make Windows Phones a Thing
The Chinese giant will set up seven research labs across Hangzhou & Beijing in China, San Mateo & Bellevue in the U.S., Moscow, Tel Aviv, and Singapore.
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. All of the facilities will be overseen by an advisory board consisting of some of the best researchers and professors at leading universities, including MIT.More news: The Feud Between Trump and Corker Is Puzzling to Washington Insiders
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. Moreover, they will include quantum computing as well as human-machine interaction, including Natural Language Processing and machine learning.
Performing research will help Alibaba stay on top of the latest technology developments, something that will be important as the company competes to be a global power in the industry. With our global expansion, we have grown and refined our technology manifold. "We aim to discover breakthrough technologies that will enable greater efficiency, network security and ecosystem synergy for end-users and businesses everywhere".More news: Twitter Hilariously Reacts To LaVar Ball Pulling LaMelo Out Of School
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