The Chinese e-commerce company, Alibaba Group Holding Limited, announced today about the company’s plan to plow in more than $15 billion over the next 3 years into a global program called Alibaba DAMO Academy. This project has a goal of serving two billion customers and creating 100 million jobs by 2036 and also to increase technological collaboration worldwide. The Chinese tech giant is currently recruiting 100 researchers.
Jeff Zhang, Alibaba Group chief technology officer, is leading the DAMO Academy. Where DAMO stands for ‘discovery, adventure, momentum, and outlook’ and start by opening labs in seven cities around the world. It has two branches in Chiana; Beijing and Hangzhou, Two in the USA; San Mateo and Bellevue, one in Moscow; Russia, One in Tel Aviv, Israel; and Singapore.
The lab will focus on research areas which include data intelligence, Internet of Things, fintech, quantum computing, and human-machine interaction. The labs will also focus on machine learning, network security, visual computing and natural language processing.
Earlier in September, Alibaba stated that they would be setting aside 100 billion yuan in next five years to boost its global logistics network as it pushes ahead with its “new retail” strategy.
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. With our global expansion, we have grown and refined our technology manifold. We are now looking for talented and driven researchers to join us in the quest for new disruptive technologies that would advance our everyday lives, benefit small businesses, and narrow the technology gap to make our world a more inclusive place.”
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.