Alibaba is investing $15 billion in R&D over 3 years
12 October, 2017, 01:03 | Author: Brenda Erickson
In the previous three years, its spending on research and development was about $6 billion-a fraction of what major US tech companies spend.
It has built partnerships with more than 200 research institutes and universities and started establishing branches in Asia, America and Europe. The company dubbed its initiative "DAMO Academy" and stands for Discovery, Adventure, Momentum and Outlook.
"The Alibaba DAMO Academy will be at the forefront of developing next-generation technology that will spur the growth of Alibaba and our partners", chief technology officer Jeff Zhang said.
The lab will focus on research areas which include data intelligence, Internet of Things, fintech, quantum computing, and human-machine interaction. On top of this, it is also now recruiting 100 more researchers from across the world.
The DAMO Academy aims to attract world-class talent in such areas as quantum computing, machine learning, basic algorithms and network security.
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The Chinese e-commerce company is launching a major funding drive to create research hubs. The new announcement will almost triple Alibaba's investment, but even so, these companies will continue to have an edge in recruiting and maintaining global talent, the Journal indicates.
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.
The Chinese giant and its affiliates have undergone a rapid expansion in the past year, bringing it into direct competition with United States e-retailer Amazon.com Inc., as well as global payments, cloud and logistics firms.
"We are now looking for talented researchers to join us in the quest for new disruptive technologies that would advance out everyday lives". "They will also be the foundation for the next generation of technologies", he said.
Ma added that Alibaba will by example of IBM and Microsoft's research labs to effectively carry out the program, but work their way to society on their "own path".
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