Alibaba launches $15 billion overseas R&D drive

Pauline Gross
October 12, 2017

Alibaba's Chief Technology Officer Jeff Zhang said, "The Alibaba DAMO Academy will be at the forefront of developing next-generation technology that will spur the growth of Alibaba and our partners".

The planned investment compares to the Dollars 6.4 billion the company spent on R&D over the past three fiscal years, according to data compiled by Bloomberg.

The company is calling its global research program the Alibaba DAMO Academy - short for discovery, adventure, momentum and outlook. Moreover, it will employ 100 researchers to recruit staff into those labs.

The DAMO Academy aims to attract world-class talent in such areas as quantum computing, machine learning, basic algorithms and network security. "With our technology and capital and responsibility, we can build a world-class research institute and if done correctly, it could help 100 billion companies create opportunities and help solve problems for billions of people around the world".

Ma's grand vision for Alibaba, which requires the company to continue doing business for at least another 84 years, also applies to the DAMO Academy. 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.

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Alibaba started as an online marketplace but has since moved into cloud computing and artificial-intelligence initiatives.

The announcement comes as Alibaba and other Chinese internet companies continue to look overseas for R&D improvements. With our global expansion, we have grown and refined our technology manifold.

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.

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

Other reports by GizPress

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