China's Alibaba launches new research academy,

China's Alibaba launches new research academy,

Chinese multinational Alibaba has announced it will invest $15bn in a global research program over the next three years in a bid to increase technological collaboration and advance development of cutting-edge technology.

Announced at the Computing Conference 2017 in China, Alibaba's CEO Jack Ma discussed his thoughts on the Academy and why it is a good approach to the future.

The DAMO Academy - which stands for the Academy for Discovery, Adventure, Momentum and Outlook - will be led by Alibaba Group's Chief Technology Officer, Jeff Zhang. To start, the academy will open seven labs - two in China, two in the USA, and others in Russia, Israel and Singapore - which will focus on "both foundational and disruptive technology" research. Over 100 scientists worldwide who specialize in different aspects of AI, quantum computing, and the IoT will also be hired.

Alibaba said it will be doubling its R&D spend over the coming three years to Dollars 15 billion in order to develop next-generation technology and explore moonshot projects aimed at upending industries, Bloomberg reported. 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.

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It will be carried out over the next three years, with Alibaba looking to hire 100 researchers from around the world to build partnership and open research labs.

Under the program, the labs will opt for projects in areas such as Internet of Things, data intelligence, and financial technologies.

Those efforts are already underway: Alibaba said it the Academy already has plans to work with the University of California, Berkeley through its RISE Lab on areas such as secured real-time computing. "We aim to discover breakthrough technologies that will enable greater efficiency, network security and ecosystem synergy for end-users and businesses everywhere". With our global expansion, we have grown and refined our technology manifold.

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