The Alibaba Group announced Wednesday it will set up a new research institute and invest over 100 billion yuan (about 15 billion USA dollars) over the next three years in advanced technology development.
The research programme will be headed by Alibaba's Chief Technology Officer, Jeff Zhan, and has been named DAMO Academy, or the Academy for Discovery, Adventure, Momentum and Outlook. With special talent recruited for the goal across several labs spread around the world, including at home in China and in countries like the United States, Singapore, Russia and Israel.
The investment also comes as Beijing prioritizes government's funding in quantum computing, AI, and big data, urging regional governments, universities, the civilian and military firms to play a bigger role in developing advanced technology in areas where China trails developed countries.
The executive has been tasked with overseeing the works done at the academy together with a "global advisory board that includes some of the world's top researchers and educators".
Alibaba outlined the program will help it to meet its long-term commitment to create 100 million jobs and serve 2 billion customers in 20 years. With our global expansion, we have grown and refined our technology manifold.
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 previous year as a way to expand its cloud business.
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. "We aim to discover breakthrough technologies that will enable greater efficiency, network security and ecosystem synergy for end-users and businesses everywhere".