Friday, 20 July, 2018

Alibaba to invest Dollars 15 billion in a global research program

Alibaba to invest Dollars 15 billion in a global research program Alibaba to invest Dollars 15 billion in a global research program
Nellie Chapman | 11 October, 2017, 18:27

AliPay, the company's online payment platform, has more than 520 million users globally, while the cloud computing division, AliCloud, has been growing strongly as the company ratcheted up its global presence by investing in e-commerce companies in South Asia and India.

Jeff Zhang, chief technology officer of Alibaba made the announcement at the company's Computing Conference 2017 in Hangzhou, China. Labs will be set up across China, the US, Russia, Israel and Singapore and collaborations will be funded with universities, including the University of California at Berkeley. The labs will develop technology and publish papers that will be useful for both Alibaba and third parties. The labs at these research institutes would apparently be utilized to work on projects spanning a multitude of disciplines - the Internet of Things, data intelligence, quantum computing, financial technologies, human-machine interaction, inclusive of natural language processing and machine learning. In addition, the academy is now looking to recruit 100 talented researchers from around the world.

MR Zhang said that Alibaba DAMO Academy will contribute major role in developing upcoming generation technology that will stimulate the growth of Alibaba and their partners. "We aim to discover breakthrough technologies that will enable greater efficiency, network security and ecosystem synergy for end-users and businesses everywhere".

According to Chinese tech giant the company is recruiting 100 researchers and they will help it in achieving its goal of serving two billion customers and providing 100 million jobs by 2036.

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

"We are now looking for talented researchers to join us in the quest for new disruptive technologies that would advance out everyday lives".

At the moment, Alibaba has 25,000 engineers and scientists, spending an average of 20 billion yuan (USD 3 billion) a year on research, the company said in a statement.

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.