Friday Alibaba starts global research academy
Alibaba Group Holding Ltd is starting a global research academy that it hopes will join the ranks of, and potentially outrival, Bell Labs and Microsoft Research.
The company is investing $15.2 billion over three years in the Alibaba DAMO Academy, said chairman Jack Ma, to help Alibaba get a head start in the internet of things, quantum computing, fintech and human-machine interaction.
The project includes seven new research labs in China, the United States, Russia, Israel and Singapore, recruiting related talent on top of its 25,000 engineers and scientists. The academy will tie up with over 200 universities and research institutes worldwide to co-develop technologies that aim to improve the lives of technology end-users or boost business security and efficiency.